PharmaJanes f/k/a Alternative Energy Partners, Inc. (OTCBB:AEGY) Recovers The Losses
PharmaJanes f/k/a Alternative Energy Partners, Inc. (OTCBB:AEGY) had a few bad sessions after High Rising Stocks, Epic Stocks and JetLife touted them for free in order to boost up their record, but the news coming from a company might put the stock back on its upward path.
If you have been following AEGY you would know that they are partners with SK3 Group, Inc. (OTCMKTS:SKTO) who provide services to the medical marijuana business like marketing, licensing, management, logistics merchant services and private banking.
On Friday, the company announced that it has opened it’s e-commerce servicing platform, PharmaJanes.com, for new patient enrollment. There the company will be offering parients the comfort of ordering medical marijuana and products licensed by SKTO from their home.
The press release was issued right after noon and the stock started climbing immediately, while the volumes increased. By the end of the session AEGY had gained a good 67% in value and closed at $0.0072. The total amount of shares that switched hands came to a massive 651 million and generated $3.8 million in dollar volume.
Still, AEGY remains to be in a difficult financial situation as we can see from the quarterly report they filed with the SEC earlier this month, covering the perioed ended October 31, 2013.
- cash: $410
- total assets: $10.4 thousand
- current liabilities: $2 million
- total liabilities: $2.2 million
- revenues: $0
- net loss: $230 thousand
And yet, AEGY is moving up since today’s market open and has added another 62% to its value crossing the 1 cent barrier. The volume is also high and the trade value has surpassed $2.3 million in just an hour of trading, which leads us to think that it can get bigger than Friday’s.
Nonetheless, this won’t make up for the grim financial situation in which the company is in, so be sure to do your due diligence and weigh out the risks for yourself before deciding the bet on AEGY.
We see some heightened interest in the pot-sector again, as both Growlife, Inc. (OTCBB:PHOT) and Hemp, Inc. (OTCMKTS:HEMP) gained more than 10% in price on volumes that put them in the top of our penny stocks with highest dollar volume.
