ProTek Capital, Inc. (OTCMKTS:PRPM) Shooting High
The stock of ProTek Capital, Inc. (OTCMKTS:PRPM) was scrubbing the floor of the market with a price of $0.0001 for quite a while and failed to attract much attention. Things, however, changed lately and PRPM is aming high.
Suddenly, the ticker started climbing and it did so very confidently, with a 200% gain in Tuesday. This happened after the company announced its new and optimistic business plan on Monday and it involved the magic words that drive investor interest since the beginning of the year.
Yes, you guessed it, PRPM have decided to enter the medical marijuana sector and their stock has been on a great run since then. The deal is that they have decided to fund medical marijuana companies due to the problems that the enterpreneurs are facing with traditinal financing over the legal issues on federal level.
Basically, they are making the same announcements that Mentor Capital, Inc. (OTCMKTS:MNTR) made after they saw the hype in the sector. The deal is that, just like MNTR, PRPM‘s financials are rather grim. Here are the numbers of prime interest from the Q3 report for 2013 for your consideration.
- cash: $72
- current assets: $21.5 thousand
- total assets: $61 thousand
- current liabilities: $223 thousand
- total liabilities: $307 thousand
- revenues: $0
- net loss: $45 thousand
PRPM also announced a 1:10 reverse split to get the outstanding share count of the company stock to 600 thousand alongside a 4th name change in its history. It seems that the hype around the medical marijuana sector is so big that people tend to forget such “small” things as financials and PRPM climbed some 600% by the end of the week on high volumes.
And it seems that it isn’t stopping there. By this moment PRPM is already knocking on the doors of double zero land, with a price of $0.0009 per share, since today’s open. However, be sure to do a lot of due diligence and weigh out the risks before deciding to go for their stock, or the stock of any company that quickly changed course since the medical marijuana industry exploded.
Hemp, Inc. (OTCMKTS:HEMP)’s upward run on the other hand was halted in the end of last week and the stock dropped seriously in the last 2 sessions before the weekend.
