SK3 Group, Inc. (OTCMKTS:SKTO) Closes The Week Green
SK3 Group, Inc. (OTCMKTS:SKTO) has been riding the hype in the medical marijuana industry and despite the regular sessions in the red, the general direction of the company stock is upward as it has gained more than 950% in value since the end of December.
Lately, we have been hearing good news coming from the company, but the press release from February 14 seems to be the only recent one to have an effect on SKTO‘s stock. On Valentines Day, the company announced that the first bottles of DharmanolTM are shipping and are available for online purchase.
DharmanolTM is big news for the SKTO, because it has almost no THC (under 0.03%) and thus it doesn’t have a psychoactive effect on the patients. This will surely attract the attention of more people who weren’t using medical marijuana to treat their illness because of the “high” that follows its use.
Furthermore, the company is in a rather impressive financial state judging by their Q3 report for 2013, which contained the following numbers.
- cash: $129 thousand
- current assets: $22.7 million
- total assets: $23.7 million
- total current liabilities: $2.3 million
- revenues: $17.5 million
- net income: $3.2 million
It is one of the few companies in the OTC markets that are generating great revenues and are managing to operate at a profit, while expanding their business. SKTO‘s current market cap is $27.7 million, which is rather small compared to other companies in the medical marijuana sector, so there is a possibility for further growth in its price.
Its current standing at $0.047 after Friday’s 18% gain makes it one of the cheaper medical cannabis stocks out there, so it is good to consider SKTO if you are looking for a pick in the industry. Still, that doesn’t mean that you should skip doing your due diligence, before making an investment decision.