Tranzbyte Corp. (OTCMKTS:ERBB) Loses Momentum, Drops
After the company’s last news release propped its price up on Tuesday, Tranzbyte Corp’s (OTCMKTS:ERBB) stock lost what momentum it had gathered, teetered at $0.04 per share, then dropped 5% down yesterday. The ticker moved 66 million shares yesterday and managed to land a spot among the most heavily traded OTC stocks.
ERBB‘s last press announcement that came on Tuesday informed that the company intends to launch its redesigned website ‘later’ in March and along with this tie all aspects of its Altitude Organix business into the new American Green brand. The same release informed that the first product to carry the new brand will be a vaporizer by Vapor Group, Inc. who are still filing as AvWorks Aviation Corp. (OTSMKTS:SPLI) and are in the process of finalizing a merger. Even though preliminary info pegs Vapor Group’s annual 2013 revenue at a seven digit number, there is no consolidated information published yet. What SPLI had to show as of their last quarterly report prior to the merger is a negative cash balance, total assets of $6 thousand and no quarterly revenues.
ERBB also announced that its new ZaZZZ machine, which is expected to roll out any time now, for a lack of a more specific date, will also carry the products of Beyond Mars Edibles. Beyond Mars produces marijuana-infused edibles and claims it is among the best in the field. Such claims would have carried a lot more weight if any of their products got any awards or was at least featured on a website doing marijuana edibles reviews. The company’s Facebook page is set up as a personal page and does not show a ‘number of likes’ stat but its Twitter account has 45 followers. To compare, Dixie Elixirs, another name in the infused edibles business, has 24 thousand followers on its Twitter account.
There is still no word on when the ZaZZZ machines will be deployed in Colorado stores, even though an older bit of news stated that ERBB has an agreement with Herbal Elements, a Colorado dispensary, who will be the first recipients of the vending machines.
As we pointed out in a previous article, ERBB‘s most recently reported financial situation as of December 2013 isn’t exactly rosy. Investors will not be able to see actual revenue figures from the company’s ZaZZZ machine before mid-May this year, if the launch goes as planned. Until then, traders would do well to tread with caution and bear in mind that the entire pot sector is a hugely volatile, high-risk playground, regardless of the ticker in question. Don’t take our word for it, take that of the FINRA, who reiterated their warning in early 2014.
The OTC market is still dominated by pot tickers, after a new bout of excitement was brought about by Dr. Sanjay Gupta’s new documentary on the medicinal qualities of the green leaf. Yesterday Terra Tech Corp. (OTCMKTS:TRTC) generated the largest dollar volume among marijuana tickers, even though it dropped 11%. Growlife, Inc. (OTCBB:PHOT) was hot on its heels with 26.6 million shares traded.
