Easton Pharmaceuticals, Inc. (OTCMKTS:EAPH) Continues to Surprise with Climbs
For one more day, Easton Pharmaceuticals, Inc. (OTCMKTS:EAPH) staved off the downward turn, instead doubling its price again. Despite skeptical opinions, EAPH had enough momentum to add more than 106% to $0.682, on buying volumes of $10.17 million. 
At first sight, there is little logic to the climb, since EAPH has not stated any updates on its business, and in its core remains shaky. Also, the email promoters have left off at the end of January. The only obvious reason is the strong momentum which led to near-record buying volumes. Since EAPH also styled itself a marijuana stock, any shred of publicity is inviting in crowds of new investors.
Investors’ forums give a hint as to why EAPH is still not stalling or reversing- there is a constant expectation of news. With the end of the week looming, it is curious to see if EAPH will hold on to the gains, and if selling happens, how much it could hurt the company.
For now, EAPH has not been milking mainstream news on the marijuana industry, as more legislation liberates not only sales but also farming. EAPH has also not yet announced the details of its Canadian venture, where it seeks a partnership to enter the medical cannabis market. The latest press releases were general, citing business interest as the reason to withhold details.
EAPH is not truly a pharmaceutical company, in that it has had no dealings with the FDA, and has tried to spread its products to Mexico and Latin America, where regulations are easier. This has left the company with the following financial results:
- cash: $95 thousand
- total current assets: $208 thousand
- total current liabilities: $406 thousand
- revenues: $0
- net loss: $47 thousand
If you are looking for a close price range, Inergetics, Inc. (OTCMKTS:NRTI) is a recent mover that bounced off its rock-bottom levels, as it announced a foray into medical cannabis. NRTI also benefits from the fact that TerraTech Corp. (OTCMKTS:TRTC) is the partner, an established hydroponics grower, as well as a much-demanded stock selection. Nevertheless, NRTI dropped on the day after the announcement, and moved away from the peak at 18 cents.
The more time passes, the greater the risk that EAPH will succumb to selling. Given that only recently EAPH started off from $0.0012, a price of six cents is a risky peak, the highest in two years. Only in the initial days of trading EAPH started off around 20 cents, only to slide below the penny on low activity. It is best not to put too much trust in the latest spike, as large parts of the investments may be cut sooner rather than later.
