Chron Organization Com (OTCMKTS:CHRO) Crashes Horribly

The news that Chron Organization Com (OTCMKTS:CHRO) is to launch its new corporate site within the week did little to halt the ticker’s descent yesterday. Why?

Well, let’s look at some facts.

First off, CHRO is an entity that has changed its name, ticker symbol and business plan six times already. It has undergone two monstrous reverse splits over the years in order to remain liquid, and in spite of this, it still has over half a billion shares outstanding.

And is it any wonder that it does, with all the toxic funding shenanigans that it has pulled?

A bit of reading of the company’s latest financial report shows that about $50 thousand worth of the notes CHRO currently has outstanding convert into shares of common stock at a rate of $0.003 per share. That’s ten times lower than the current market price. The rest of its nearly quarter of a million worth of debt issued and outstanding converts at rates varying between $0.001 and $0.005 per share as well.

Additionally, there are at least 32 million warrants for the purchase of CHRO stock at a price of 0.005 currently outstanding, and all of those expire in November 2017.

Mind you, the rest of the report looked like this:

• No cash or any sort of assets
• No revenues ever
• Total Current Liabilities – $153 thousand
• Convertible Promissory Notes – $247 thousand
• Quarterly Net Loss – $332 thousand

This horrible array of unimpressive numbers pretty much tells you all you need to know about CHRO‘s current situation, the company’s dubious nature and the way it does business.

With all of this in mind, it immediately becomes obvious that the question to ask in this situation is not “why did CHRO lose a third of its market cap yesterday”, but rather “how is this company’s market cap still as ridiculously high as $15 MILLION”.