Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCBB:NNRX) Has Its Priorities Mixed Up
Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCBB:NNRX) was supposed to file its 10-Q for the quarter ended Oct. 31 yesterday. Instead, the company provided an NT 10-Q (notification of late filing).
The failure to file on time was met with an appropriate market response. NNRX plunged another 37.56% on 5.1 million shares. At $0.265 per share, NNRX got its brand new low close since it started active public trading in September.
A couple of hours ago, the company issued another press release. Contrary to what some may have expected, it was in no way connected with the late filing and provided no explanation for the delay. What NNRX saw fit to announce was the publication of the latest book by CEO, Dr. Tracy Gibbs PhD – “Your Guide to Oil of Oregano.”
Dr. Gibbs stated that the first run printing of over 70 thousand copies “should give a boost to the entire Nutranomics branded health food supplement line…” One could question the causality in this case, and it will be interesting to see whether there will be any positive market response today.
The NT 10-Q filing gives NNRX another 15 calendar days to file their quarterly report. Should it fail to do so, it will be relegated to the Pink limited information tier of the OTC markets.
A lot of companies on the OTC have difficulties to file on time, but those that have actual operations and profits usually manage it. NNRX may want to get its priorities straight, if the management wants to make any solid claims to legitimacy.