Tranzbyte Corp. (OTCMKTS:ERBB) Pushes Up
Yesterday Tranzbyte Corp. (OTCMKTS:ERBB) managed to push to a close nearly 17% up. Share volume kicked back into six digits, at 130 million shares changing hands. ERBB stopped at $0.037 by the closing bell.
What is making ERBB inch closer to its newly recorded highs of $0.039? Mostly trader excitement, fueled by the press releases the company keeps pushing out. ERBB‘s last red streak was interrupted by the company’s latest press release coming out on March 4, informing of new tests conducted by a division of ERBB and Bloom Dispensaries.
ERBB filed its latest quarterly in late February and it contained more or less the same deflating figures found in the previous one:
- $2 thousand in cash
- $3.6 million in current liabilities
- $86 thousand in quarterly revenues
- $323 thousand in quarterly net loss
The main reason people are excited about ERBB is not the company’s revenue streams but its ZaZZZ trademarked vending machine that will hopefully start making money for the company soon. ERBB previously announced an agreement with Cyber Kiosk Solutions, Inc., f/k/a Dynasty Limousine, Inc. (OTCMKTS:CYBK), who provided the software for the vending machines. CYBK is a pink sheet enterprise with negative cash and negative total current assets on its last report that was also recently targeted by stock pumps.
The great expectations are now riding on ERBB‘s announcement that Herbal Elements LLP, a dispensary in the state of Colorado, will be the ‘first recipient’ of the company’s ZaZZZ machine. The release doesn’t make it entirely clear what exactly the agreement covers, except that Herbal Elements will ‘assist’ in the machine’s rollout in Colorado. Dispensary owner Mr. Honan will work with ERBB to ‘supply the company with important aspects’ of how ZaZZZ will best fit into the state’s market space, whatever that may mean. The PR does not mention any sales numbers or other specifics.
Investors are really eager to hear more about the success of ZaZZZ and its endorsement by retailers, especially after the last announcement of a first ZaZZZ customer fell through. In late January ERBB announced that PARC Dispensary would be the ‘first to carry’ the vending machine. Sadly, that didn’t happen as ERBB informed that the deal fell through five days later.
Other big pot stock movers in Monday’s session include Growlife, Inc. (OTCBB:PHOT) and Hemp, Inc. (OTCMKTS:HEMP) who both outpaced ERBB in terms of dollar volume and closed respectively 11% and 16% up.