Novus Robotics, Inc. (OTCMKTS:NRBT) Gathering Momentum
The stock of Novus Robotics, Inc. (OTCMKTS:NRBT) has been gradually ascending the charts since the beginning of the year, for no apparent reason. There were 2 sessions in the red with big percentile losses lately, but NRBT has almost regained the value.
The drops happened after we saw some intense trading, triggered by a press release made by the company on March 20, announcing that they have delivered the first and are already manufacturing the second aluminum components processing system for the Ford-150 truck.
This was the first press release since July, 2013. Also, NRBT‘s message boards aren’t as crowded as is the situation with most other stocks, but judging by the messages there the upward movement from the end of 2013 is due to a radio pump.
The second press release came on March 26, when they announced that they have completed the installation of assembly equipment for aluminum components for the crash management system of the BMW X4. The ticker lost 20% that day, but started moving up on increasing volumes afterwards.
What bothers us is the fact that the quarterly report for the period ended September 30, 2013 showed the sales have dropped substantially, which is disturbing, despite the fact that the company has quite some cash on hand.
- cash: $1 million
- current assets: $1.9 million
- current liabilities: $1.2 million
- revenues: $57 thousand
- net loss: $43 thousand
Looking at the same period in 2012 we see that the net loss was double, but the revenues were 10 times more, at $590 thousand. These figures might explain the silence of the company in the second half of 2013. Probably, there was just nothing happening.
Furthermore, there are some rather disturbing comments on the message boards from people who are wondering if this is “going to be pumped and dumped again soon”, dating back to December 12, 2013. Also, there are some people saying directly that this is a “scam” in their opinion.
With these things in mind, it would be a very good idea to do your due diligence and weigh out the risks if you have thoughts of betting on NRBT.
