Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) Claims Rapid Increase in Demand
A few hours ago, Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) issued a press release saying it had hired a new territory manager “due to a rapid increase in demand for its products in the southwest US.
While the announcement seems to suggest NNRX is experiencing growth, there’s no way to make an educated guess about how that will affect the numbers for NNRX. The latest filing with financial information doesn’t provide details about the geographical distribution of revenues.
Similar announcements were made by Green Innovations Ltd. (OTCBB:GNIN) and iTalk, Inc. (OTCBB:TALK) when they were being pumped by the newsletters of ECA Group. Eventually, results didn’t meet expectations.
In NNRX‘s case, the pump newsletters haven’t followed up on their first emails from Sep. 28. The disclosure page of ECA Group shows the $60 thousand for the week of Oct. 4 still haven’t been received, and that may have something to do with the fact that NNRX crashed 67% after those emails surfaced.
It will be interesting to see whether the latest press release will do anything for the market performance of NNRX stock. Yesterday it closed up 2.63% at $0.39 which is still more than 70% below the high before the crash. The volume of 614 thousand shares was the lowest since NNRX started trading actively in September.