Cantabio Pharmaceuticals Inc. (OTCMKTS:CTBO) Comes Tumbling Down
Cantabio Pharmaceuticals Inc. (OTCMKTS:CTBO)’s recovery lasted for just one session before the ticker once more reversed direction.
This should not have come as a surprise to anyone who has been paying attention to CTBO. In fact, an argument can be made that in spite of dropping another 8.84% the company’s stock is still horrendously overcosted. Why?
Because when you look past the self important strutting, boastful announcements and pathetic pumping efforts, CTBO is just an idle OTC Markets penny stock company with next to no achievements and no resources to its name.
Sure, the WallStreetReport may think it is great, but at the end of the day, all the company had to show for its efforts at the end of the last reported quarter was:
- Cash & total assets – $100 thousand
- Total Current Liabilities – $188 thousand
- Quarterly Net loss – $65 thousand
Note that we’re talking about a company that, in spite of recently losing about a third of its market cap, is still valued at more than $60 MILLION. These numbers are so inconsistent that it’s frankly a miracle that CTBO hasn’t suffered an even more drastic correction yet, in spite of having left illiquid obscurity almost a month ago.
Still, this all but waves a great big neon sign for investors who somehow didn’t know what to expect from CTBO in the near future.
As usual, we advise caution and diligence when dealing with suspicious and volatile tickers.