Greenstone Healthcare Corporation (OTC:GRST) Manages to Sustain Climb
The stock of Greenstone Healthcare Corporation (OTC:GRST) has been highly volatile over the last month, swinging from around $.14 to $.50 and then back down. Assisted by a large number of promoters in the second week of April, GRST is picking up speed in its share volumes traded and the price is slowly climbing.
The huge price swings visible on the mid-March chart of GRST were once again caused by promotions, what is more, promotions paid for by the same party who is paying for the newer pumps. In mid-March GRST ran for a while but it the end it crashed and burned, dropping nearly 70% from the spike of the pump.
Late last week pumpers returned with new touts for GRST, once again compensated for their efforts by Equities Awareness Group. The pumps touted the recent release of GRST‘s 2012 yearly report, containing some impressive figures, as well as other, less impressive ones. Here is the brief rundown of the report numbers:
- $380 thousand in cash
- $4.5 million in liabilities
- $5.5 million in yearly revenue
- $1.5 million in yearly net loss
All things considered, the revenue figure is an impressive one for any OTC-tier company and it represents a significant increase of GRST‘s 2011 revenue of $1.6 million. However, the company is still struggling to turn profitable, something that may happen if revenue keeps its growth rate and the company managed to rein in expenses. GRST also keeps funding its operations through the issuance of convertible notes, the last one issued this month, convertible at a discount of 39% from the market price, with millions of shares issued to cover other convertibles in 2012.
Considering the fact that the movement both up and down caused by the last round of pumps for GRST can easily be seen on the chart, investors approaching the company now may want to be a little more careful, as there’s no telling when the climb may be interrupted and followed by a slump. Volume is already faded and the emails for GRST seem to have ceased, with most promoters disclosing their last-week efforts as one-day coverage.
