Lustros, Inc. (OTCMKTS:LSTS) Continues to Gather Momentum
The stock of Lustros, Inc. (OTCMKTS:LSTS) is making one remarkable climb ever since the start of November when it was trading for 15 cents per share. And it seems that they are only picking up speed with an even bigger surge up the chart during yesterday’s session.
LSTS jumped by nearly 30% and closed just a bit lower than their high of the day at $0.43. The amount of traded shares reached the record for the last two years number of 800 thousand shares. The stock may be reaching some rather unstable prices judging by its volatile performance in early trading today.
There is no obvious reason for the sudden change in direction when the ticker has been sliding for the most part of the last two years. The company is rather reluctant in releasing PR articles. They didn’t even seem to think that the increase of the authorized amount of common shares from 100 million to 250 million was important enough to deserve an official statement.
Well, looking at the last financial report filed by LSTS it is quite obvious that investors should prepare for further dilution of the company’s common stock. LSTS finished the quarter ending September 30 with:
• $179 thousand
• $1 million total current assets
• $3 million total current liabilities
• $66 thousand
• $1.4 million net loss
• $1 million total current assets
• $3 million total current liabilities
• $66 thousand
• $1.4 million net loss
In October the company reported their first sale of copper sulfate. Sadly the article mentioned neither the name of the Buenos Aires buyer nor price he paid for the product. The next financial report won’t be coming out for some time leaving investors in the dark how profitable the recent operations of the company have been. That is why it is extremely important to do your own due diligence and weighing in all he risks around the stock.
Two stocks that are also making steep climbs up the chart mostly due to the hype around them are Marani Brands, Inc. (OTCMKTS:MRIB) and Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX). MRIB have just recently returned to active trading after disappearing for more than two years and today have broken through 2 cents per share, currently siting at $0.022. NNRX on the other hand are moving towards much higher prices of a $1.12 per share in early trading.