United Treatment Centers, Inc. (OTCMKTS:UTRM) Contines to Stoke Fires with PR
United Treatment Centers, Inc. (OTCMKTS:UTRM) is trying to get as much as possible from its recent entry as yet another cannabis stock. With two new recent PR messages, UTRM added 65% to reach $0.0033, on volumes unseen since the beginning of the month, reaching above $1.69 million.
UTRM increased its exposure with two PR updates in the past days, explaining its effort to start a daily marijuana news broadcast. UTRM would be partnering with producer company Pathbender Entertainment to build a web TV broadcast. Now, it’s a wait and see if the promised videos appear, and if they offer an extra boost of publicity for UTRM, and that the web TV would indeed be “the CNN of the pot industry”. But so far, PotNetwork 420 has only several blogposts on the topic, and a single video of a promotion of the UTRM ticker.
The other update is that UTRM would attempt to improve its share structure, by retiring three billion shares, belonging to the previous management of the company. In addition to media, the transformed UTRM would be offering business consulting services to newly created marijuana companies, to gain licenses and an access to a market still needing careful navigation of laws and regulations.
UTRM still faces the problem of no audited SEC filings, lacking even a filings serial number. The limited self-reported information shows that the company is equipped with the following financials to take on the new challenges:
- $7,000 annual revenues
- $293,000 annual net loss
- $1,000 cash
- $441,000 total current liabilities
It seems that UTRM is beginning to gather serious burdens of debt and past losses, putting a question on the ability to realize the plans. Despite the red flags, UTRM is seen as a stock with still significant upward potential, as investors’ forums indicate. But now it remains to be seen when UTRM would improve its share structure- its current level of outstanding shares is 5.5 billion, with six billion authorized shares. And it remains to be seen if the new business model would serve the company, as in the past it went through several identities, including a wine company and a medical business.
Resource Ventures, Inc. (OTCMKTS:REVI) is the other company that aims to supply the marijuana market with the proper media. REVI also jumped on the news it would be partnering with Hemp, Inc. (OTCMKTS:HEMP) to publish a projected magazine, “Hemp Nation”. REVI is in the range of a few cents, though it peaked at $0.06 and since then lost about a third of its price, hovering sideways for the few last days.
While UTRM shows the possibility for correction and turbulent periods, there is still enough upward reaction with positive news. Still, it is best not to rely too much on that trend, to avoid significant losses when the price movement reverses.