Rainbow Coral Corp (OTCMKTS:RBCC) On Another Upward Climb

[[tagnumber 0]][[tagnumber 1]]We saw Rainbow Coral Corp (OTCMKTS:RBCC) attract a lot of investor attention in the latest months. The ticker hiked all the way up to levels above the $6 per share mark in July, but quickly turned its upward run to a steep descent that led it below the $1 mark.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Earlier this month we saw [[tagnumber 6]]RBCC[[tagnumber 7]] hit a low of $0.48 per share and this wasn’t very surprising considering some of the fundamentals. A quick look at the company’s financial report covering the second quarter of the year reveals a very disturbing situation. Here is a quick look at [[tagnumber 6]]RBCC’s[[tagnumber 7]] most important numbers for that period.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $2,740[[tagnumber 15]] [[tagnumber 14]]current assets: $4,524[[tagnumber 15]] [[tagnumber 14]]current liabilities: $517,798[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $27,683[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $136,929[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Apart from that, we shouldn’t forget that there were a lot of convertible notes issued whose terms weren’t altered after the 1 for 100 reverse split exercised in May and some shares with massive discounts might have already hit the market.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Furthermore, [[tagnumber 6]]RBCC’s[[tagnumber 7]] main source of revenues is an aquarium supply retail shop, despite the fact that management wants you to think of the company as a biotech. Still, the company was able to climb the charts recently, even though there was no reason for the hike.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The first sessions of the week left it 19.55% up and trading at $1.10 per share, crossing the one dollar mark once again. A total of 448 thousand shares generated $492 thousand in daily dollar volume, the highest RBCC has seen since the beginning of the month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday we saw another fluff PR that is going to help the stock in absolutely no way. Today’s movement excellently shows this as we see [[tagnumber 6]]RBCC[[tagnumber 7]] down 10.92% as of the writing of this article.[[tagnumber 2]]