Will DNA DYNAMICS INC (OTCMKTS:DNAD) Get A Break
It seems that Dna Dynamics Inc (OTCMKTS:DNAD) might finally be getting a break after the long period in which they had trading sessions with positive outcome which you could count on the fingers of one of your hands.
Today DNAD started trading good gaining 33% after they bombed another 50% down in yesterday’s session. They started at $0.0003 and are now on $0.0004 at a very high volume of 16 million traded stock in just one hour after trading started.
Yesterday’s trading session was a huge dumping fiasco which ended with a whopping 1.1 billion shares that changed hands generating $269 thousand dollars in trade value with the small price of DNAD, a ticker in the three zeros. It seems that nothing special caused the good start in today’s trade session as the company hasen’t had any press releasess or pumps from June 12.
However, even pumps and press releases can’t save the dying ticker. When it was last pumped on June 12 nothing really happened. The pump was fairly cheap and respectively it generated no upwards movement. Probably it was just a try to boost the price before the big dumping that took place yesterday.
It all starts to look like the well known scheme of driving your stock to $0.0001 and then doing a reverse split. The first thing that indicates this is the fact that the company has 9 billion authorized shares 8 billion of which outstanding that make up the $2.4 million market cap of DNAD. The disturbing sensation comes when you take a look at the financial state of the company. The reports are not well organized as DNAD aren’t filing their reports with the SEC, but under the alternative reporting standard in the OTC Markets. Below is a list with the numbers of prime interest from their latest quarterly report covering the period ended March 31.
- cash: $7 thousand
- total liabilities: $230 thousand
- revenue: $40 thousand
- operating loss: $789 thousand
Well, we can’t tell that they have good financials. In fact they have terrible financials for a company with 8 billion outstanding shares. We also found bad news in another part of their quarterly report which they conveniently put out of the financial statement in a separate document.
The document contains almost no numbers, but we found a nice little chart of companies that have bought DNAD stock and one name stood out. In fact it couldn’t have been otherwise due to the fact that all of the purchases of DNAD stock except one were made by them. The company in question is Fairhills Capital and they don’t have a good history. They own a total of 326.4 million DNAD shares and are ready to dump them as soon as the price goes up (or like yesterday when it is falling).
We are lead to this conclusion by a certain complaint of a company owner who sold a decent amount of his stock to them and they immediately dumped it. They then called him to complain about the rapid decrease in the price of the stock, but he was friendly with a broker that Fairhills Capital used and the broker confimed that indeed, they are behind the dumping. You make your thoughts of that, only be sure to do your own due diligence before investing in them.
One of the other interesting tickers that we covered earlier today was Bediba Beberage Co. (OTCMKTS:BBDA), which after two days of going 48% and 40% up respectively is starting to go down and is currently being traded at $0.0054. On the other hand Norstra Energy, Inc. (OTCBB:NORX) have started today’s session optimistically after the 6 trading days in which they closed in the red.