ChromaDex Corp. (OTCMKTS:CDXC) Goes Further Up The Charts
The stock of ChromaDex Corp. (OTCMKTS:CDXC) has it’s sessions in the red, however, the general direction in which it has been moving since the beginning of last year is up and we get regular positive news from the management about the company’s progress.
This of course adds more to the upward drive of the stock and CDXC might reach above the $2 mark pretty soon. In the end of last week we got to hear an interview with CDXC CEO, Mr. Frank Jaksch, which didn’t exactly have an instant impact on the stock’s movement, but is the believed reason for the regained value in recent sessions.
In the press release the company also bragged about their latest $62 million agreement for ingredient supply and brand licensing with 5LINX® for CDXC’s nicotinamide riboside, PURENERGYTM and NIAGENTM. This is good, because CDXC is yet to prove itself as being a profitable company despite the big numbers listed in their Q2 report for 2013.
- cash: $826 thousand
- total current assets: $4.6 million
- total assets: $8 million
- total current liabilities: $3.3 million
- revenues: $2.7 million
- net loss: $1 million
Even though the net loss is significant there is a bright side. The company management has somehow succeeded in reducing its general and administrative expenses almost 2 times. With other cuts the total reduction of the losses is nearly 75%, while the revenues have remained the same.
The current price of CDXC after yesterday’s 13% gain is $1.779. The volume of traded stock was kept in norm and was slightly above the average with 310 thousand shares that switched hands during the session and some $538 thousand in dollar volume.
Overall it looks like CDXC is one of the more stable companies in the OTC markets, however, this doesn’t mean you shouldn’t do your own due diligence and weigh out the risks, before jumping in their bandwagon.
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