Bio-Matrix Scientific Group, Inc. (OTCMKTS:BMSN) Jumps On Dividend News
The stock of Bio-Matrix Scientific Group, Inc. (OTCMKTS:BMSN) has been gaining value since the beginning of the month. Despite all the sessions in the red, the general direction of the ticker since the beginning of the year is upward, but things got a little hotter lately.
On March 6 the company announced that it will distribute a 20 million share dividend among eligible shareholders. It is stated in the press release that investors will receive 1 share of Regen Biopharma, Inc. a subsidiary of the company (BMSN holds 50 million of the 51.9 million outstanding shares) for every 147 shares of BMSN.
The news came in the afternoon of last Thursday, just a little over an hour before the market closed, and the company stock price began to rise immediately as well as the volumes. By the end of the session the ticker had gained 79% in value and had generated a trade value of $1.2 million.
The next day started in a similar matter as BMSN began rapidly ascending the charts, reaching as high as $0.0091. The stock, however, couldn’t break the 1 cent barrier and slid back down to a close of $0.0074 with a $2.3 million dollar volume.
Still, the company is not in a shining-bright financial situation as per their report covering the period ended December 31, 2013.
- cash: $268 thousand
- current assets: $283 thousand
- total current liabilities: $1.3 million
- revenues since inception: $0
- quarterly net loss: $920 thousand
They had a $42 million onetime non-cash gain from the deconsolidation of Entest Biomedical, Inc. and have accumulated $17.3 million in net loss from BMSN‘s inception in 2005. Still, the company is older judging by their SEC filings, the oldest one of which dates back to 2001, when it was operating under the name Tasco International, Inc.
Today’s session also started on a good foot, but the $21 million market cap of BMSN is far from their book value and looking at their report we don’t see any cash spent for research and development, which is crucial if they are going to be a revenue-generating biotech company.
In any case, be sure to do your due diligence and weigh out the risks before deciding to make an investment.
ZAP (OTCMKTS:ZAAP) had a little bit of a tumble in the final session before the weekend, losing 42% of its value after the amazing 306% gain from the previous day. Baristas Coffee Co. (OTCMKTS:BCCI) on the other hand is still gathering upward momentum.
