NaturalNano, Inc. (OTCBB: NNAN) Wavers After Months Of Ascending
NaturalNano, Inc. (OTCBB:NNAN) spent July to September 2013 in an uneventful slumber, with share prices fluctuating around $0.001. October saw them rock solid at approximately half that amount, but by month’s end they’d picked up the pace. Come November, the company’s ascension had begun, and by the end of the year they’d managed to increase their market value more than tenfold.
The company’s continued market success can in some part be attributed to the 10-Q for the for the three months ended Sept. 30, 2013 that was filed on Nov 19, 2013. Though not impressive, it showed signs of improvement:
- Cash $10
- Total assets $51 thousand
- Income from revenues $18.6 thousand, compared to last year’s $6.7 thousand
- Total liabilities $6.3 million
Net loss from continuing operations $45 thousand, compared to last year’s $359 thousand
It is certainly commendable that the company’s reduced its net loss nearly ninefold, while managing to increase their income from revenues nearly three times, but that 10$ on hand to their name is rather pitiful, however you look at it.
This is the main reason to consider their rapid climb unwarranted, right until Jan. 3, when a patent was issued by the US Patent & Trademark Office to the Company. It concerns the use of NNAN‘s proprietary Halloysite NanoTubes (HNT) in NanoComposite Method of Manufacturing and was announced as a major step towards the successful marketing of NNAN‘s products. Apparently many traders saw that as their cue to commit, as by the end of the same session the company’s market had jumped 95.38%.
The very next day the ticker opened strong at $0.013 but failed to climb further or even maintain this high, dropping by -5.51%, despite multiple pumps by promoters like The Stock Psycho, a.k.a. Darth Trader, Top Stock Tips, Penny Investor Network and Penny Stock Dream.
All things considered, the company’s market value seems to be progressing much faster than the company’s financial state.
Another company with that made an unbelievable jump in the Jan. 6 trading session is Appiphany Technologies Holdings Corp (OTCBB:APHD) with their groundbreaking 136.36%.
