Tranzbyte Corp. (OTCMKTS:ERBB) Stumbles After Rise
Tranzbyte Corp. (OTCMKTS:ERBB) had been on an aggressive rise ever since March 14. Said ascent took it to the top of the charts for a time, but did not last. ERBB suddenly ground to a halt on Tuesday, and yesterday’s session took the ticker another 17.44% down.
Now, with the end of March approaching fast, the final release of ERBB‘s ZaZZZ vending machine is still nowhere in sight. Company COO ?nsured investors on multiple occasions, that this project is the hot new thing that would bring ERBB on the right track. However, vague announcements, unclear promises and optimistic well-wishing without any real evidence of progress can only push the ticker up for so long.
Meanwhile the red flags surrounding the company just keep piling up. Primary among those is the insight provided by the company’s latest Quarterly report, the one covering the period ended Dec 31, 2013:
- Cash on hand – $2,665
- Total assets – $3.8 million
- Total liabilities – $5.8 million
- Quarterly revenues – $86 thousand
- Quarterly net loss – $323 thousand
News of ERBB‘s agreement with IMD Companies Inc. (OTCMKTS:ICBU) for co-marketing the Jurassic Oxygenation System with ICBU‘s EMC-5000 Environmental Controller managed to keep ERBB afloat for a while. By now, with the hype generated by the announcement long gone, it’s no wonder the company is crashing again. Only time will tell if ERBB will be able to turn this plummet around.
