Inergetics, Inc. (OTCMKTS:NRTI) Rushes To The Top
Inergetics, Inc. (OTCMKTS:NRTI) managed to jump a whooping 85.71% on Friday, for no apparent reason whatsoever.
As we all know, NRTI is a nutraceutical company that wanted to capitalize on the marijuana rush that gripped the OTC Markets throughout 2014 and sent the tickers of pot-related companies sky-high. To this day, NRTI is traded as a pot-stock, so upon seeing the charts one would assume that this most recent spike in activity was caused by some positive announcement that got investors hyped up about NRTI‘s pot-prospects. That’s how it usually works in the marijuana branch.
Oddly enough, that does not seem to be the case this time around. Sure, there is hype, and for some reason the message boards are bubbling with excitement and optimistic predictions keep pouring, however the reason for the hype is not clear at all.
There are no new pumps, press releases, no activity on the company’s social network accounts, no insider interviews or “leaked information” and there certainly aren’t any new filings or updates on NRTI‘s financial state.
Which, by the way, looks as grim as ever, if not more so:
- Cash – $28 thousand
- Total Current Assets – $318 thousand
- Total Current Liabilities – $14 MILLION
- Total Revenues – $284 thousand
- Net Loss – $4.4 MILLION
If anything, these numbers look even more miserable than ever. Investors need to consider said numbers next to the fact that NRTI has an accumulated deficit of approximately $100 million, and the fact that the total of its shares of common stock outstanding increased four times during in the last 18 months. Only then can can the company’s true face be seen.
And in light of the above mentioned facts, said true face can be called nothing less than horrifying. Indeed, it begs the question why did the ticker jump? And how long will this jump last, if the company has next to nothing going for it?
Investors should think long and hard on these two questions and proceed with due caution when dealing with NRTI stock.
