Greengro Technologies Inc (OTCMKTS:GRNH) Still Slipping
Earlier this year we saw Greengro Technologies Inc (OTCMKTS:GRNH) make a great run that pushed it to a 52-week high of nearly 12 cents per share. Unfortunately, the ticker began correcting and has lost more than 60% of the value it had back then on decreased volumes.
There is progress in the business, but it just doesn’t seem enough to support a higher market cap. The financial state of the company isn’t that great either. Here is a quick example of some of the contents of the company’s financial report for the first quarter of the year.
- cash: $204 thousand
- current assets: $992 thousand
- current liabilities: $645 thousand
- revenues: $197 thousand
- net loss: $173 thousand
Those numbers aren’t really good, but they’re not terrible either. On the good side of things we see that GRNH has managed to keep the liabilities small, but it still hasn’t avoided issuing a lot of stock for consulting services and as conversion of debt.
The company isn’t issuing that many press releases either, so it’s not such a big surprise that the ticker is sliding. The latest slide saw GRNH closing five consecutive sessions in the red. The latest slip cost 6.67% and pushed the company stock down to $0.041 per share yesterday.
GRNH issued a new PR today and the price is a bit more stable. Still, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.
