Tranzbyte Corp. (OTCMKTS:ERBB) Closes The Week Green
Tranzbyte Corp. (OTCMKTS:ERBB) has had a great run since the beginning of the year, due to the hype surrounding the medical marijuana sector. Of course, there are the regular declines, but overall it is looking pretty good.
Last week wasn’t the best for ERBB, as it went through one of its steepest drops since the start of 2014, losing 35% of its value in the course of just 3 days of trading. Despite that, the final session before the weekend was successful and is sure to have brought some smiles to investors.
The reason for the 29.66% climb was a press release posted about an hour before market open, which announced the unveliling of the ZaZZZTM vending machine for medical cannabis at Montana’s BBQ in Avon, Colorado.
The volume of traded stock was around the average for ERBB‘s stock, as the ticker went to a close at $0.0835. The total amount of 230 million shares change their owners, which managed to generate a a hefty $16.7 million in trade value.
The financials, however, aren’t rosy at all and are not showing any achievments, which is bad, considering the company’s oldest available filings in the OTC markets date back to December, 2001.
- cash: $2,665
- total assets: $3.8 million
- total liabilities: $5.8 million
- quarterly revenues: $86 thousand
- quarterly net loss: $323 thousand
This puts the question of whether the company management is actually capable of operating their venture at a profit, even in the booming medical cannabis industry. Also, there are just too many people grasping for a piece of the pie in the sector and it is becoming harder to guess who will make it.
This is good enough reason for you to do your due diligence and weigh out the risks before making an investment decision.
In the same time, Growlife, Inc. (OTCBB:PHOT) barely moved, but still managed to make $6.5 million in dollar volume. Unfortunately for the shareholders of Medical Marijuana, Inc. (OTCMKTS:MJNA), the company stock spent the whole week closign in the red.
