Surna Inc. (OTCMKTS:SRNA) Halts Its Ascent

Surna Inc. (OTCMKTS:SRNA) had an exciting session of chart climbing yesterday, but today’s red opening does not bode well for the company’s market value.

Evidently most investors bought what SRNA was selling when it published its latest PR, and decided to focus on the positives in the company’s newest financial report. That would certainly explain both their initial enthusiasm, and their withdrawal now that heads have cooled somewhat and they have had the chance to take a more critical look at the company’s actual state.

Because some careful reading reveals that the company’s situation is not as peachy as its press release would have readers believe. The most glaring red flags can be found in the fact that SRNA reported having just $145 thousand in cash on hand, AND $1.6 million worth of in convertible debt, some of which can be transformed into shares at ridiculous discounts and dumped on the market at the noteholders’ leisure.

This being the case, it should be no surprise that the ticker is currently suffering a correction – just as it should be no surprise if it loses all the gains it made in the last two trading sessions, and then some.

Investors should be very careful and diligent and seriously consider all the risks when dealing with SRNA stock, as the ticker displays high volatility, which can bring disaster as easily as the opportunity for quick profit.