Innovus Pharmaceuticals Inc. (OTCMKTS:INNV) Is Still Running Up
tags: INNV
Yesterday saw Innovus Pharmaceuticals Inc. (OTCMKTS:INNV) add another 11% to its market cap – but how far can the pump push it up?
It is more than a bit comic to see a pumper named “SECfilings.com”. Although not too subtle, the name’s irony should not be lost on perceptive OTC Markets investors. What’s surprising is how diligent said pumper actually is. The disclaimer on the site where the touts appeared mentions that Emerging Growth Corp – the entity behind the pump – received a thousand dollars a couple of months ago – and yet they are still making efforts to push INNV up, and successful ones at that.
Unfortunately, said touts are about the only thing about the company one could call even remotely successful. Suffice it to say that in spite of all of the pumpers’ claims, INNV‘s actual financial standing last time it reported doesn’t really inspire more confidence:
- cash – $32 thousand
- total current assets – $378 thousand
- total current liabilities – $3.56 million
- Q1 2016 net revenues – $224 thousand
- Q1 2016 net loss – $1.55 million
What’s more, one would be remiss to neglect mentioning the fact that $1.32 million worth of INNV‘s current liabilities are actually in the form of convertible notes, and all of those notes convert into shares of the company’s common stock at a rate of $0.15 per share.
Investors would do well to take that fact into consideration, because it is especially noteworthy in light of the paid pump that is currently targeting INNV.
Naturally, it is up to traders to decide whether or not the risk involved is worth the potential reward – but in this case, we advise the utmost caution, because any attempt to capitalize on INNV‘s volatility could have disastrous results.
