Neutra Corp. (OTCMKTS:NTRR) On Its Way Down Again
The new finally year brought some consistency to the chart movements of Neutra Corp (OTCMKTS:NTRR). Like all other companies in the marijuana business, it managed to gather momentum around the holidays, crashed about 20% on Jan. 10 and has been descending gently ever since. NTRR picked up the pace just yesterday, and made a 12.32% jump assisted by a press release.
The company issued a couple of announcements over the course of their latest descent. An overly enthusiastic press release NTRR on Jan. 21 proudly announced that their new an innovative prototype system is now in Phase I of development. However the company failed to mention how many phases of development the program has.
The same press release states that this product could “soon” assist indoor growers in a big way. The period in question was, again, not specified – NTRR didn’t even give a vague estimation of what “soon” may mean.
Further, NTRR declared its intention to improve the product even further with the help of a business partner: Surface to Air Solutions, Inc. (S2O2). The company and its partners claim they can create a clean, sterile growing system that requires no pesticides or antibiotics.
Another press release was issued on Jan. 23, this one – even more vague than before. NTRR declared that it is working to capitalize on rising public demand by creating innovative new solutions for the growing marijuana industry – old news, to say the least. The other part of the release contained mostly hopes and promises of revolutionary products that will bring the company financial success “soon”.
Obviously that was enough for buyers, as the company closed at $0.629 yesterday. However investors would do well to remember NTRR’s latest 10-Q, the one for the period ended Oct 31, 2013. Said report listed the following figures:
- Cash and cash equivalents – $91 thousand
- Total current liabilities – $128 thousand
- Net loss – $0.8 million
Perhaps the most alarming statement in the whole report is the “We have no revenues” part.
The picture the report paints is that of a company with very little cash on hand, net loss totaling almost 10 times that amount and no revenues. The only thing that seems pushing NTRR forward presently are the above mentioned press releases, which seem to contain nothing but vague promises of commercial success that is to come “soon”.
Another company in the marijuana branch that made a jump yesterday is Medical Marijuana Inc. (OTCMKTS:MJNA), who registered a 18.94% move up and is going strong in today’s session.
