Neutra Corp. (OTCMKTS:NTRR) Surges on Record Volume
At the start 2014 pushed upwards by the widespread hype the stock of Neutra Corp. (OTCMKTS:NTRR) was able to once again reach $1 per share. Since then though enthusiasm started to disappear and every movement in an upwards direction has been immediately followed by a series of corrections. Still through the combination of endless PR announcements and the artificial hype created by the pumper QualityStocks NTRR is keeping most of its gains never falling below 55 cents.
Yesterday was no different with yet another PR that contained little to no useful information but the reaction from the market was quite surprising. Traders flocked towards the stock and in an unprecedented buying frenzy managed to shift 2.5 million shares resulting in a dollar volume for the day of $2 million. Boosted by the sudden spike in interest NTRR closed 25% in the green at $0.805.
As we said the announcement that was published a couple of hours before the start of the session mostly reiterated old information about NTRR‘s vapor pen products. On February 11 NTRR acquired Diamond Anvil Designs, a producer of smoke free vapor pens, without revealing any details about the deal. What we do know though is that the products are still not being marketed and there has been no launch date disclosed. The official website for Diamond Anvil also offers little insight.
The current vapor pens are just the latest in a series of products that should have brought NTRR out of its miserable financial state. At the start of January the company was ecstatic about their anti-microbial coatings but they were quickly replaced with talks about indoor growing equipment. All of these products are actually developed by other companies with which NTRR has entered into joint ventures. For the last year there have been five joint ventures and no positive results.
We will see what the next financial report will contain but at the end of October, 2013 NTRR had:
• $91 thousand cash and total assets
• $213 thousand total liabilities
• ZERO revenues
• $349 thousand net loss
The company has entered into a couple of convertible notes that allow their holders to receive a lot of extremely cheap shares priced at $0.01 or in some cases – $0.05 while the current market price has consistently stayed above half a dollar for the past two months.
With no commercialized products NTRR is certainly a risky pick. Use caution when trading the stock and be sure to do your own due diligence before making any decisions.
The e-cig and vaporizers industry is becoming more and more popular among pennystocks. Yesterday the stock of mCig, Inc. (OTCMKTS:MCIG) continued to claim new record heights after it added 23% to its value and closed the session at $0.80. The newcomer to the industry – Vaporin Inc. (OTCBB:VAPO) didn’t have such luck and it slashed 16% ot its price sliding down to $0.165.
