Axxess Pharma, Inc. (OTCMKTS:AXXE) Wipes A Fifth of Its Value
Nothing lasts forever and that goes double for a pennystock that is climbing up the chart pushed solely by the hype created by paid pumpers. After 7 sessions in a row of constant gains yesterday the stock of Axxess Pharma, Inc. (OTCMKTS:AXXE) dropped like a rock and slashed a significant portion of them.
AXXE opened the day with a gap up of nearly 2 cents but immediately started to plummet going as low as $0.23 in a little more than an hour. It managed to stabilize at that price range and at the end of the day was sitting at $0.24, exactly 20% lower than the previous close. Although the amount of traded shares was lower than Tuesday’s record, the 1.4 million shares dumped on the market were nearly 10 times bigger than the average for the company.
The pumpers who took the biggest compensations and which we discussed in our previous article decided to stay quiet yesterday in turn giving a chance for the lesser newsletters to chime in. Winning Penny Stock Picks and Super Nova Stock Picks, affiliates of Rising Penny Stocks, released a round of email alerts early in the morning before the start of the trading session for a total compensation of $5000. StockRunway on the other hand joined in during the evening for the sum of $4000.
If the pump campaign will continue after yesterday’s crash remains to be seen but AXXE decided to take matters into their own hands and an hour before market opened today announced that the bodybuilder Michael Spencer will join the list of TapouT’s sport spokespersons. TapouT is AXXE‘s line of pain relief products that are the company’s hope for a brighter future. On January 8 they said that the initial order of products for distribution in Canada has been sold out.
Although that is undeniably a tremendous step in the right direction for AXXE they still remain a rather risky choice for investment. Their most recent reported financials weren’t exactly encouraging, either. At the end of September AXXE had:
• $74 thousand cash and current assets
• $547 thousand current liabilities
• ZERO revenues
• $93 thousand net loss
• $547 thousand current liabilities
• ZERO revenues
• $93 thousand net loss
Not to mention that the paying parties for the current pump and the one that took place in September owned quite a bit of AXXE‘s 
shares. Ramm Venture Development who funded part of September’s promotion were issued 2 million shares. The other one – Ramos & Ramos, is quite similar to another name found in AXXE‘s financial reports. The company owes more than half a million to Ramos & Ramos Investment Inc. and they can convert a substantial portion of that sum into common stock.
shares. Ramm Venture Development who funded part of September’s promotion were issued 2 million shares. The other one – Ramos & Ramos, is quite similar to another name found in AXXE‘s financial reports. The company owes more than half a million to Ramos & Ramos Investment Inc. and they can convert a substantial portion of that sum into common stock.In early trading today AXXE is going furhter down by losing a little more than 4% and trading for $0.23. Another pump that suffered a crash during yesterday’s session is the one for Centor Energy, Inc. (OTCMKTS:CNTO). Today, though, thigs are strating quite diffrently with CNTO surging upwards by 16% to $2.37.
