Cellceutix Corp (OTCMKTS:CTIX) Regains Some Lost Value

[[tagnumber 0]][[tagnumber 1]]Cellceutix Corp (OTCMKTS:CTIX) has been having a hard time holding its value for the past few months. It all started with a [[tagnumber 2]]“report”[[tagnumber 3]] posted on a popular investor forum that was written by people who had stated that they are shorting the company stock.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Despite the obvious conflict of interest, however, the ticker began to fall and some other people decided to get in on the action, even without making their own due diligence. We don’t really know how The Rosen Law Firm or others that filed class action lawsuits against [[tagnumber 8]]CTIX[[tagnumber 9]] might profit from all this and what their involvement might be, but the gun they are pointing can backfire with serious consequences.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]We say this in the light of the recent announcement that [[tagnumber 8]]CTIX[[tagnumber 9]] has retained the Ashcroft Law Firm to help them in the legal battle against entities that allegedly filed frivolous lawsuits based on information that was not confirmed in the first place. Yes, we are talking about the [[tagnumber 2]]“report”[[tagnumber 3]] we mentioned in the first paragraph.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]And while said [[tagnumber 2]]“report”[[tagnumber 3]] claims that [[tagnumber 8]]CTIX[[tagnumber 9]] is heavily overvalued and the treatments that the company is developing are worthless we see that the company is still making progress and has some pretty decent numbers to show in its latest annual report.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 29]] [[tagnumber 30]]cash: $8.41 million[[tagnumber 31]] [[tagnumber 30]]current assets: $8.76 million[[tagnumber 31]] [[tagnumber 30]]current liabilities: $7.29 million[[tagnumber 31]] [[tagnumber 30]]revenues: $0[[tagnumber 31]] [[tagnumber 30]]annual net loss: $13.14 million[[tagnumber 31]] [[tagnumber 40]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Despite all this, the lawsuits filed by several law firms are still having a negative effect on the ticker. [[tagnumber 8]]CTIX[[tagnumber 9]] even dropped below the $1 per share mark in the beginning of Friday’s session, but managed to regain the losses and close in the green.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]After some positive news from yesterday we saw [[tagnumber 8]]CTIX[[tagnumber 9]] climb an impressive 21.27% up the charts and finish the session with a price of $1.34. A total of 609 thousand traded shares generated $773 thousand in daily dollar volume.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]The company stock is hesitating today, so you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 4]]