Easton Pharmaceuticals, Inc. (OTCMKTS:EAPH) Can’t Reverse Its Direction
As the hype in the medical marijuana industry started to dwindle away, the stock of Easton Pharmaceuticals, Inc. (OTCMKTS:EAPH) followed all the others in the MMJ bandwagon and began to sink slowly.
Even the optimistc PR didn’t manage to reverse the trend and EAPH has finished only one session in the green since the beginning of this month. The total loss that the stock has endured since April 1 is upward of 40% and it seems that it might get even bigger, considering the recent suspension of Growlife, Inc. (OTCBB:PHOT) and the impact it has on the medical cannabis stocks.
Furthermore, the current financial state of EAPH isn’t rosy. You can check the numbers of prime interest from their annual report covering the period ended December 31, 2013 below.
- cash: $187 thousand
- current assets: $287 thousand
- current liabilities: $584 thousand
- revenues: $0
- net loss: $346 thousand
Still, the company is trying its best to renew the upward movement of its stock. On Monday they announced that they have finalized an agreement with BMV Medica, S.A. De C.V. for the distribution and marketing of the company’s ViorraTM product in Mexico.
What is interesting is that the only place we find BMV Medica on the internet, apart from EAPH‘s press releases is in the LinkedIn profile of one Daniel Bagi, M.D. You might ask – What is interesting in that? Well, we also found another profile of a Daniel Bagi, who is listed as “Propietario”, or owner enlish of, yes you guessed it, Easton Pharmaceuticals. You can judge for yourself if this is just a coincidence, but to be honest, it doesn’t look like one to us.
Also, the tension in the medical cannabis sector is getting stronger and more and other companies like Medical Marijuana, Inc. (OTCMKTS:MJNA) and Cannabis Science, Inc. (OTCMKTS:CBIS) have began sliding down faster since PHOT was halted.
With all that in mind we would advise you to do your due diligence and weigh out the risks before making any investment decision.
