Carbon Sciences, Inc. (OTCMKTS:CABN) is a Real Roller Coaster

After a spectacular one-day pop pushed the share price of Carbon Sciences, Inc. (OTCMKTS:CABN) over a penny per share, yesterday’s session saw the ticker shift hard in reverse. The company’s share price dropped 27% yesterday, with CABN slipping just a notch under a cent per share once more.

The company’s slingshot move up the charts was triggered by a press release announcing CABN managed to produce “high quality” graphene using a new take on the CVD or chemical vapor disposition method for graphene production. This was achieved in the laboratories of the University of California, Santa Barbara (UCSB).

This does not mean CABN will start pumping out industrial amounts of graphene next month. The good news is that this new take on CVD is allegedly less costly and, with enough refinement, could become a more “viable commercial technology”. The bad news is, CABN is not exactly in a position to soon become the new big player in the sector.

Here is what the company had to show as of its annual report for the year ended December 2014:

• $15 thousand in cash
• $10.6 million in current liabilities
• ZERO revenues since inception
• $7.7 million in annual net loss

With no history of revenue generation, it’s only natural that CABN is diluting its stock. The company went from 72 million outstanding shares in late 2013 to hit 241 million common shares outstanding in December 2014. With $15 thousand in the bank, it’s unlikely that dilution will magically come to an end in 2015.