Propanc Health Group Corp (OTCMKTS:PPCH) Slips Again
After the terrible slide that threatened to push the stock of Propanc Health Group Corp (OTCMKTS:PPCH) below the 1 cent per share mark back in the end of February we saw the ticker regain a lot of the lost value on increased volumes in March.
After the quick gains we saw PPCH get severely corrected, but the stock managed to make another upward run in the second half of April. As the month was coming to an end, however, PPCH began to slide again and May wasn’t very favorable towards the company stock. The financial report for the first quarter of the year also didn’t manage to inspire investors.
- cash: $1.47 million
- current assets: $1.61 million
- current liabilities: $5.14 million
- net loss: $2.15 million
Those numbers aren’t that bad for a company that is valued at less than $10 million, especially in the industry that PPCH is in. Still, we see that the liabilities have increased significantly and the net loss is about 4 times bigger than the one recorded in the same period last year.
The company issued a press release in the end of last month, announcing that it has engaged two advisory firms in order to identify partnering opportunities. That didn’t manage to help PPCH gain investor confidence either. The company stock finished last week with a 11.35% loss at $0.0203. A total of 11.28 million shares changed their owners and generated $237 thousand in daily dollar volume.
PPCH is definitely trying to finds its footing in today’s trading, but you should still be sure to do your due diligence and weigh out the risks before putting any money on the line.
