Grillit, Inc. (OTCMKTS:GRLT) Slashes a Third of Its Price Just Before The Weekend
The stock of Grillit, Inc. (OTCMKTS:GRLT) has fallen on hard times. Ever since the combination of a paid pump and increased PR activity from the company themselves resulted in a intraday high of nearly $6 dollars per share on August 15, the ticker has been sliding downwards wiping most of its gains.
On Friday it closed higher than its 99 cents open but in the end it was still 30% lower than the previous close. Currently the stock is traded for $1.24 and interest has surged up to 350 thousand traded shares, a record number for the past month.
Coincidently August 15 is also the last day on which alert emails were distributed touting GRLT. PrimeTimeStocks and OtcProfessor, both affiliates of Primary Investments, were among the last to stick around. They disclosed compensation of just $4000 for their services.
The latest announcement from GRLT concerned their 5-1 stock dividend. Apparently the management of the company found out that most investors thought that a forward split was going to take place and decided to clarify the issue. Unfortunately for most shareholders though a stock dividend may actually be the worse option of the two.
The four extra stocks that are given out for every GRLT share owned are restricted which means that traders are stuck with them for at least a year. And after this holding period is over the shares don’t become free-trading automatically but have to be put through more legislative hassle.
We don’t know what will happen with the company in 12 months but at least we know what their fundamentals looked liked at the end of the July 30:
- $15 thousand cash
- $43 thousand total current assets
- $203 thousand total current liabilities
- $199 thousand revenues
- $335 thousand net loss
For now the restaurant chain is unable to turn a positive bottom line but with the recent expansion and the $3 million revolving line of credit their current operations seem to be going in the right direction. Doing your due diligence is still necessary before 
attempting any trades due to the stock’s high volatility. In early trading today they are 3% down.
Last Friday the stock of Cal-Bay International, Inc. (OTCMKTS:CBYI) nearly doubled in price when it surged by 94%. Today they are still going up by 5% but investors should exercise caution because the company is currently in the OTC Pink No information tier. NanoViricides, Inc. (OTCMKTS:NNVC) on the other hand are going strong on a multi-day climbing trend passing through dollar and a half per share.
