Growblox Sciences Inc. (OTCMKTS:GBLX) Continues Its Surge
Although it didn’t achieve the dollar volumes of the more notorious companies in the marijuana branch, Growblox Sciences Inc. (OTCMKTS:GBLX) stock prices certainly rose on the latest green surge. Yesterday, the ticker finally gathered momentum and gained a hefty increase, reaching highs of $1.15 and closing at $1.06.
GBLX‘s PR would have you believe that it is actually making serious progress in making itself one of the most prominent companies in the marijuana branch. However, one careful look at it reveals the fact that it is just as vague and irrelevant as the announcements that pot stock companies tend to spew to attract attention.
Truth be told, GBLX has indeed made some progress since the last time we checked on it. The company’s financials by end of Q2 2014 read as follows:
- Cash – $3.21 million
- Total current assets – $3.23 million
- Total current liabilities – $553 thousand
- NO REVENUES
- Net loss – $1.4 million
Evidently the company has managed to get its hands on quite a bit of cash, but the cost investors paid for it is horrific. As of February 14 GBLX had 850 thousand outstanding shares. By the time June 9 came around, that number had jumped all the way up to 23 million. As of June 30, GBLX had 32,473,282 SO.
Investors are advised to do the math carefully and think twice before involving themselves with a company with such an extensive history of toxic funding and crushing dilution.