Tranzbyte Corp. (OTCMKTS:ERBB) Still Running
After Tranzbyte Corp. (OTCMKTS:ERBB) managed a big climb on Monday, its share price is still not showing serious signs of slowing down. Even though ERBB closed just 16% in the green yesterday, volume was even heavier compared to their 27% green Monday session.
ERBB dipped a little shortly after the opening bell but bounced back and managed to climb near $0.07 per share around noon. Excitement cooled off a bit by the close but heavy volume pushed the price up in double digits once more.
ERBB made a bit of a splash on investor discussion boards with an interview that was published on the Internet sometime after the close. Conducted on a small YouTube channel, the interview featured ERBB‘s COO, Mr. Shearin, talking about the company’s vision, its water oxygenation system that we examined yesterday and the progress made on bringing the ZaZZZ vending machine to clients.
When asked about a timeline for the commercial availability of the ZaZZZ machine, Mr. Shearin simply stated that the machine “is in production, being fabbed”. Once that is completed, he added, the company will be able to give a more specific timeline that they would be able to stand by. Traders may have hoped for a more specific answer but nonetheless the interview may cause a stir and volume could remain heavy into today’s session as well.
Excitement aside, ERBB is still sitting on its last reported financials dating back to December 2013 and those are not exactly stellar:
- $2 thousand in cash
- $3 million in current liabilities
- $86 thousand in quarterly revenues
- $323 thousand in net loss
Which way the ticker goes from its current well-elevated perch remains to be seen. The excitement that is still shaking the pot sector of the OTC may prove resilient and go on for a while longer. Other marijuana tickers that headed volume charts yesterday include Growlife, Inc. (OTCBB:PHOT) who dropped 11%, down to a close of $0.68 per share. Cannabusiness Group (OTCMKTS:CBGI) managed another green close, stopping 15% up by the bell.