Essential Innovations Technology Corp. (OTCBB:ESIV) Drops After Promising Run
Yesterday’s trade session didn’t go without the touting of Essential Innovations Technology Corp (OTCBB:ESIV). This time only 2 of the 3 Delaware based promoters that are promoting the stock sent out emails and the heavy trading that was generated pushed the price of ESIV‘s stock down after the promising start of the week.
ESIV have been trying to make it in the renewable energy and green technology sector since they commenced development stage back in 2009. The 4 years that have passed with a lack of revenues, however, aren’t speaking too good for the company’s determination and that reflects their stock’s movement.
After the promotional campaign was initiated they started the week with a very decent gain of 49.53% in price on a volume more than 10 times their average of 257 thousand with a total of 2.8 million traded shares. The ticker reached a value of $0.16 per share and generated a trade value of $412 thousand.
However, yesterday didn’t end that well. The high volume of traded stock brought the price of ESIV 15.62% down and the ticker closed the session with a price of $0.135 per share. The total amount of shares that switched hands came at 4.25 million and helped generate the highest trade value in the stock’s history, estimated at $734 thousand.
With a current market cap of $2.3 million one starts to wonder what the company has to offer in exchange. Here is a quick recap of the numbers of prime interest from their Q2 report.
- cash: $483 thousand
- total assets: $260 thousand
- total current liabilities: $1.1 million
- revenue since inception: $0
- net loss: $73 thousand
The situation isn’t rosy at all and considering that the stock has undergone the pump treatment we can’t say that the ESIV is a solid investment choice. ESIV came out with a few press releases announcing that they formed a Joint Venture company in Dubai, but with current developments in the Middle East, after Syria supposedly discovered the biggest gas reserve on the planet we aren’t quite sure that the world is ready to embrace green energy as the next big thing.
Having all that in mind, be sure to do a lot of due diligence and weigh out the risks for yourself, before jumping on ESIV‘s stock.
On the other hand Skyline Medical Inc. (OTCMKTS:SKLN) closed another session in the green, after the company’s stock jumped 39.97% in yesterday’s session moving from $0.30 to $0.4199. There were quite a lot of shares that were traded yesterday and the trade value exceeded $1.2 million.
Nutra Pharma Corp. (OTCMKTS:NPHC)’s session went even better as their stock gained 84.17% yesterday. They closed with a price of $0.0221 per share and a hefty 34 million traded shares that generated a dollar volume of $567 thousand for the day.