CleanPath Resources Corp. (OTCMKTS:CLNP) Gathers Upward Momentum
CleanPath Resources Corp. (OTCMKTS:CLNP) has been gathering momentum in an upward direction throughout the week and has so far rocketed up by an amazing 233% in just 4 trade sessions.
The latest news coming from the company are rather optimistic and have managed to aid the upward run that CLNP is making. The most recent press release is from February 5 and is centered around the good results of the human clinical trial of the companies’ NUTRALOADTM product.
Still, yesterday’s results weren’t as good as the previous days’ and CLNP added some 17.65% to its value on a massive volume. We saw a total of 294.7 million shares switch hands during the session, which generated $650 thousand in dollar volume.
Still, the company financials are grim and suggest that CLNP might have already run out of money to fund its operations. Here are the numbers of primce interest from the quarterly report covering the period ended September 30, 2013, in case you’ve missed our previous article.
- cash: $10.8 thousand
- current assets: $28.5 thousand
- current liabilities: $53 thousand
- revenues: $11.5 thousand
- net loss: $27.2 thousand
And yet, a company that doesn’t even have $50 thousand in assets has a market cap of $12 million. This suggests that the stock might turn around as easy as it began to climb and the correction will most probably be serious. Also, there is that special blog dedicated to CLNP‘s management, of which we talked about in our previous article, that isn’t exactly good for the company reputation.
This is the exact reason for which we would advise you to do a your due diligence and weigh out the risks before jumping in CLNP‘s boat.
Creative Edge Nutrition, Inc. (OTCMKTS:FITX) has also been headed in an upward direction in the past 2 sessions and had reached a price of $0.0719 after yesterday’s session. Plandai Biotechnology, Inc. (OTCMKTS:PLPL) on the other hand, is still going down and lost 16% yesterday.