A Bad Week for Fuse Science, Inc. (OTCMKTS:DROP)
The stock of Fuse Science, Inc. (OTCMKTS:DROP) had a tough month in which it slid even lower in price. The regular PR from the company and the sportsmen that are advertising their products seem to be insufficient to provide a better direction.
Speaking of that, we can’t miss out to mention the latest commercial that the company announced on November 26. It’s 30 seconds long and features the 2013 World Serioes MVP and Boston Red Sox player David Ortiz.
These news proved, yet again, unable to generate a positive movement of the stock and the ticker registered another 11% loss before Thanksgiving. The volume was a little over the stock’s average with 7.3 million shares switching hands and a trade value of $148 thousand.
It couldn’t be any other way considering the fact that we still haven’t seen the financial state of the company from the third quarter of this year. If you have followed our coverage of DROP you would know that their second quarter wasn’t impressive and contained the following numbers.
- cash: $380 thousand
- current assets: $1.9 million
- total assets: $2.2 million
- current liabilities: $1.9 million
- revenues: $322 thousand
- net loss: $3.6 million
As you can see for yourself, the company’s situation is not rosy at all. A big red flag is the huge amount of net loss, which has grown by 56% compared to the same period in 2012 and dwarfs the generated revenues.
The situation won’t change until we get some optimistic, number backed information on how DROP fared in the third quarter of the year, but we might expect them to file their report late, just like they did for Q2.
In any case, be sure to do a lot of due diligence and weigh out the risks if you are thinking of betting on DROP.
Fresh Healthy Vending International, Inc. (OTCBB:VEND) also had a bad session before the holiday in which their stock dropped 28% in price. Biozone Pharmaceuticals, Inc. (OTCBB:BZNE) on the other hand ended the session with a 25% gain.
