Propanc Health Group Corp (OTCMKTS:PPCH) Shooting Up

[[tagnumber 0]][[tagnumber 1]]The past couple of months have went pretty badly for the stock of Propanc Health Group Corp (OTCMKTS:PPCH), as it descended the charts vigorously. The smaller daily volumes didn’t seem to be able to stock the ticker from sinking and it reached a low of $0.0225 per share in Tuesday’s session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This was rather surprising, as the company stock was constantly touted by entities like the Wealthy Venture Capitalist who had received quite a lot of cash for their articles, stating that smart investors should consider investing in [[tagnumber 6]]PPCH.[[tagnumber 7]] Meanwhile, however, the financial results that the company is showing are quite bad.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Even though [[tagnumber 6]]PPCH[[tagnumber 7]] announced that they will be late with their report for the period ended June 30, 2015 it was filed yesterday in the late afternoon. The 10–K report contained numbers that weren’t very promising.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $107 thousand[[tagnumber 19]] [[tagnumber 18]]current assets: $621 thousand[[tagnumber 19]] [[tagnumber 18]]current liabilities: $3.68 million[[tagnumber 19]] [[tagnumber 18]]revenues: ZERO[[tagnumber 19]] [[tagnumber 18]]net loss: $3.41 million[[tagnumber 19]] [[tagnumber 28]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while the cash reserves are getting smaller and the revenues are still far from sight we see a significant increase in current liabilities, mainly through convertible notes and related accrued interest. This is bad because it means that even the possibility for more dilution is quite real.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, [[tagnumber 6]]PPCH[[tagnumber 7]] managed to close 28.44% in the green yesterday. As it climbed to a close at $0.0289 we saw a total of 4.36 million shares change their owners and generate $113 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that investors are even more excited in today’s trading and the number of traded shares is already closing in on yesterday’s total. The ticker is 23.18% up as of the writing of this article, but if the heavy trading continues we might see it drop lower.[[tagnumber 2]]