Pharmacyte Biotech Inc (OTCMKTS:PMCB) Struggles Under Ongoing Pumping
Pharmacyte Biotech Inc (OTCMKTS:PMCB) has not been doing particularly well over the last couple of months. An excited spasm sent the ticker over $0.20 per share but that lasted a couple of sessions. Ever since PMCB has been steadily trudging downhill, with a few minor recovery sessions. Yesterday the stock lost another 5% and stopped at $0.114 per share.
The company is pumping out press announcements faster than you can say Jack Robinson, with seven releases in June alone. There is one other thing, however, that is far more frequent that PMCB‘s pres releases – the paid stock pumps targeting the company.
We’re just over 170 days into the new year and there have so far been over 140 pump emails for PMCB. It seems like just about every active stock promoter took a stab at pumping the ticker at some point. There have been four new pumps this week, by Penny Stock Circle, Penny Stock Hero and Stock Mister. Compensations peaked at $15,000 paid to advertise PMCB.
Larry Isen’s OTC Journal is still touting PMCB through pump email as well, with their latest email compensated with $14,000 for “continuing coverage” of the ticker. We have previously discussed Mr. Isen’s past run-ins with the SEC and why exactly OTC Journal touting PMCB is not a good thing. Anyone can spend five minutes with Google and find a lot of interesting information on the subject.
PMCB reported the following as of Jan 31, 2015:
- $958 thousand in cash
- $378 thousand in total liabilities
- ZERO in revenues
- $1.45 million in quarterly net loss
The incessant flood of paid pumps are making it as difficult as ever to get excited about the company’s potential. The balance sheet is not exactly the stuff of legend either. With PMCB‘s fiscal year end in April, the next due report is an annual which should arrive by the end of next month.
