American Brewing Company Inc. (OTCBB:ABRW) Going Up Again
tags: ABRW
The stock of American Brewing Company Inc. (OTCBB:ABRW) gained a lot of altitude in the second half of May, climbing the charts on increased volumes. As trading quieted down last month, however, we saw the ticker lose some of its value, before managing to turn to an upward direction once again.
People have been excited for some time now, concerning the recent major acquisitions announced by ABRW a couple of months ago. Meanwhile, the balance sheet of the company isn’t exactly great. Here is a quick look at some of the numbers of prime interest contained in the latest financial report.
- cash: $151 thousand
- current assets: $669 thousand
- current liabilities: $768 thousand
- revenues: $589 thousand
- net loss: $288 thousand
Those numbers are far from flattering, but ABRW has somehow managed to keep its market value for the time being. Investors are still excited about the acquisitions, even after the terms of the agreements were set clear by an 8-K form filed earlier this month.
The company will have to issue a total of 4,353,915 shares at a price of $1.6066 a pop to cover $6,995,000 of the purchase price, give a further $8,500,000 in cash and issue a secured promissory note for the amount of $4,500,000 for a total of $19,995,00.
Meanwhile, ABRW gained another 9.50% in value yesterday, closing the session with a price of $1.93. A total of 106 thousand shares generated $204 thousand in daily dollar volume, which is a little over the thirty-day average.
Today’s session, however, isn’t going all that well, so you should be sure to do your due diligence and weigh out the risks before putting any money on the line.
