The Relentless PR of Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCMKTS:NNRX) Finally Yields Results
With the end of the pump campaign for Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCMKTS:NNRX) on October 16 the stock of the company has seen very little upwards movement. For the most part investors forgot about them and traded volumes were getting lower and lower. Well, the management of the company decided that they could do what the pumpers, who bagged $60 thousand for their services, failed to achieve and decided to flood the market with PR articles.
For the last month a new statement has been posted every two days but the stock seemed to be firmly set around the $0.47 mark. Still they continued with their struggles to create some sort of hype and yesterday they finally succeeded. The ticker surged by 11% and closed at $0.52 but more impressive were the 1.5 million shares that got traded throughout the day when compared to the 200 thousand shares from the previous day.
So what swayed investors to return to NNRX? Despite operating in the business of nutritional food supplements on November 1 they announced the signing of a Letter of Intent with Genesar Nutraceuticals, LLC for the licensing and distribution of the GenEpicTM prostate cancer treatment. The product is described as a natural formula containing 70 vitamins and minerals, 32 herbs, and 16 enzymes and polynutrients. Currently it is in the 11th month of a yearlong clinical study.
Yesterday NNRX said that their science and legal team have conducted the necessary due diligence and the results were rather positive. But keep in mind that this doesn’t mean that the LOI will be executed. Today rather early in the morning came the next PR, this time regarding a new product and supply distribution for Bangladesh. As a result the stock opened with a gap up and is currently sitting at $0.561 while more than half a million shares changed hands in less than an hour.
The question remains though, how far exactly have NNRX been able to progress with their operations? There is still quite a while before the next financial report is filed and their previous mineral exploration business left them with rather discouraging financials:
$1439 cash- $3939 total current assets
- $2539 total current liabilities
- ZERO revenues
- $3680 net loss
Until a more up-to-date data is available it will be best to use caution when trading their stock. On Monday the oil and gas development company First Titan Corp. (OTCMKTS:FTTN) tumbled by more than 20% to close at $0.86. The rather stable stock of 22nd Century Group, Inc. (OTCBB:XXII) also suffered a crash and dropped below the $1 mark for the first time in four months, currently trading for $0.93 per share.
