Neutra Corp. (OTC:NTRR) Cools Down After Marijuana News Craze
The times, they are a-changin’. Medical marijuana is hot, sizzling white hot. Everyone wants in and everyone thinks the mere mention of the green leaf will make them rich. Neutra Corp. (OTC:NTRR) also chose to board the medical marijuana rollercoaster but it looks like their car is now riding a downward slope.
The company started picking up speed on the charts when on March 22 it announced its intentions to enter the medical marijuana sector, quoting the yearly revenue of Medical Marijuana, Inc. (PINK:MJNA) and discussing the potential of the market. This statement failed to reflect both the fact that companies like MJNA have already gobbled up a fair percentile market share and competition would be stiff to say the least, as well as that it took MJNA some more time to get where it is now.
On the other hand, NTRR is an entity founded in 2011 that has not proven it can generate a dime of revenue yet. NTRR switched CEOs back in November 2012, with Ms. Cindy Morrissey appointed to the position without an employment contract, compensated $60 thousand per year. In addition to being NTRR‘s CEO, she is also the president, sole board member, treasurer, secretary and CFO of the company. Considering this lengthy list of positions and obligations attached to them, investors can only hope that in the absence of a formal contract, Ms. Morrissey does not regard her duties at NTRR as a bit of extra work one does on the side.
The last available financial report from NTRR is a quarterly dated October 2012 and it contains the following humbling figures:
- $7.5 thousand in cash, comprising total assets
- $182 thousand in current liabilities
- ZERO revenues since inception
- $282 thousand in net loss for Feb-Oct 2012
The bold statements made in the recent press releases of NTRR paint a harsh contrast between the financial situation of the company with its greatly limited financial resources and its plans for the future. As an added curiosity, NTRR seems to share its office space with Transfer Technology International Corp. (PINK:TTIN), as the contact address for NTRR given on their website is an exact match with TTIN‘s address given on their OTCMarkets page, down to the number of the suite occupied.
Medical marijuana seems to work a lot like the proverbial carrot on a stick, but chasing uncertain possible future gains is an investment strategy that involves a degree of risk that may prove too much for many investors.
