Amarantus Bioscience Holdings, Inc. (OTCQB:AMBS) Jumps Between The Holidays

When we last left Amarantus Bioscience Holdings, Inc. (OTCQB:AMBS), the company was fast gathering momentum on the wings of the announcement of their entering a worldwide agreement with the University of Massachusetts Medical School for intellectual property. The agreement included, among other things, the use of mesencephalic astrocyte-derived neurotrophic factor (MANF) as treatment for beta cell-degenerating disorders as well as a biomarker.

Share prices quickly rose a hefty 15% in a single session, but failed to further, or even maintain their newly acquired height, as the hype dissipated. The next session looked like the beginning of another receding line in the company’s chart history, but the drop only lasted one day. On Dec. 20 the stock stabilized at $0.052, and was relatively steady until Dec, 26, when it jumped 23.33%, followed by another jump of 9.91% on the very next day.

Which is a mystery, to say the least, as the Dec. 26 jump appears inexplicable. True, an 8-K filed on Dec. 27 announced the news of the company’s latest step forward, but that was not filed until the stock jump was well under way. On said date AMBS made public its decision to part ways with its current independent registered public accounting firm –  Silberstein. The accounting firm threatened to make reference to the subject matter of certain disagreements in connection with its reports on the Company’s financial statements.

On Dec. 26 AMBS wrapped it up with Silberstein and requested that the accountant resolve all pressing issues Securities and Exchange Commission that directly require the firm’s involvement.

By the time of the Dec. 27 trading session, AMBS had engaged Marcum LLP as its independent registered public accounting firm for the Company’s fiscal year ended Dec. 31. This maneuver has been planned for some time now, and was finally approved by the Company’s Board on Dec. 16.

Overall – reasonably important news, although not terribly impressive to buyers. Who, nonetheless, jumped at the company, even though it is evident that its financial state can be called shaky at best. In its most recent 10-Q, the following numbers were listed:

Total current assets $1.5 million

Cash and cash equivalents $1.0 million

Total current Liabilities $4.6 million 

Net loss for the Nine Months Ended Sept. 30  $5.7 Million

It is quite obvious that the company has come a long way. Its total current assets, for example, have increased nearly tenfold since last year, which is admirable, but sadly it is still losing money at an alarming rate and has yet to make a single dollar in revenues. All in all, it appears to be far from marketing a product, not to mention becoming profitable.

Another company that investors have smothered with attention lately is Tiger Oil and Energy Inc(OTCMKTS:TGRO), which has fallen more than 16% in the last two trading sessions.