Tranzbyte Corp. (OTCMKTS:ERBB) On The Rise Again
Tranzbyte Corp. (OTCMKTS:ERBB) has been moving faster in an upward direction lately, however, it seemed like things had slowed down in the middle of last week. The final session before the weekend showed some renewed interest and this week started off on a good foot as well.
A little after the market was opened on Friday, ERBB announced that they have signed a letter of intent with Abbatis Bioceuticals Corp. (OTCMKTS:ATTBF), a Canadian company in the medical cannabis industry.
When the agreement is complete ERBB will gain access to ATTBF‘s portfolio of bio-ceutical grow products for cultivation of cannabis and the companies will complement each other in the respective countries they are doing business in, promoting their products.
The intraday chart shows that the ticker began ascending the charts on Friday, right after the news were publicly available and the trend continued through the day until the end of the session, when ERBB closed with a 24% gain on almost double the previous day’s volume.
Yesterday, ERBB was mentioned among several other companies in the sector, like Endexx Corp. (OTCMKTS:EDXC) and Anything Tech Media (OTCMKTS:EXMT), in a review of The Marijuana IndexTM‘s performance during last week as the company completed its first placement of their ZaZZZ machine in Eagle-Vail, Colorado and made some good gains as the news spread.
This is surely good, considering the fact that ERBB was struggling to operate at a profit, according to their financial report for the period ended December 31, 2013 and they had low cash on hand.
- cash: $2,665
- current assets: $38 thousand
- total assets: $3.8 million
- current liabilities: $3.6 million
- total liabilities: $5.8 million
- quarterly revenue: $86 thousand
- net loss: $323 thousand
It appears that things are going well for ERBB at the moment and they are expanding their business as more and more restrictions are being lifted for the medical marijuana industry. More news are coming in today announcing a completed agreement with IMD Companies, Inc. (OTCMKTS:ICBU) to co-market their Jurassic Oxygenation System with ICBU‘s EMC-5000 Environmental Controller.
As we see there are many companies in the sector joining forces to work together and the rapid expansion is clearly visible. How many of these companies will manage to become profitable and benefit their shareholders, however depends on their management and is for time to tell.
This is the exact reason for which we urge you to do your due diligence, especially when dealing with companies in this quickly growing sector.