Easton Pharmaceuticals Inc. (OTCMKTS:EAPH) Continues To Drop
Easton Pharmaceuticals Inc. (OTCMKTS:EAPH) is one of the companies that got the least from the hype surrounding the medical marijuana industry lately and had only 2 sessions with big gains in price, followed by a decline.
The company stock registered its first session in the red on Friday and the volume of traded shares dropped substantially. This week didn’t start differently and we saw even less trading and the probable reason for that is the fact that there are no new press releases from the company and EAPH hasn’t been mentioned in mainstream media alongside other companies in the sector like Medical Marijuana Inc (OTCMKTS:MJNA), GrowLife Inc (OTCBB:PHOT), Hemp, Inc. (OTCMKTS:HEMP) and Terra Tech Corp (OTCBB:TRTC).
The drop that EAPH made yesterday wasn’t as big as Friday’s, but 11% is quite a lot. The ticker closed the session priced at $0.0081 as 36 million shares switched hands and generated $284 thousand in dollar volume.
The company isn’t filing financial reports with the SEC, but we are well informed from from their reports under the alternative reporting standard in the OTC markets. We can’t say that their latest filing is bad, but the numbers aren’t pretty.
- cash: $95 thousand
- total current assets: $208 thousand
- total current liabilities: $406 thousand
- revenues: $0
- net loss: $47 thousand
The lack of news coming from the company is probably the biggest thing that holds back EAPH‘s stock and the climb was only due to the medical marijuana craze and the touting in investor forums. EAPH still remains a risky stock of a company that is yet to produce at least some revenue and try to become profitable.
In any case, be sure to do a lot of due diligence and weigh out the risks if you have any thoughts of hopping on their train.
