United Treatment Centers Inc. (OTCMKTS:UTRM) Slumps After Climb
Monday’s climb saw United Treatment Centers Inc. (OTCMKTS:UTRM) outdo even it’s Friday jump, rising approximately 400% in the span of a four session of frenzied buying. It was obvious that this volatile growth state couldn’t last, and it didn’t – UTRM finally stumbled yesterday, losing some 21.53% of its market value.
The company had started its ascent on the news that it was retiring large portions of its common stock. As expected, that event launched UTRM all the way to the top of the charts over the course of a session. However, the ticker’s aggressive climb did not relent when it was logical or reasonable for it to do so. Indeed, UTRM seemed to gather more and more momentum as the days went by, despite the obvious red flags that surround the company.
In elaboration – UTRM stock was worth $0.0001 at the start of 2014, and for good reason. The company’s latest financial report, that covered the period ended Sept 30, 2013 clearly shows why – the report on the company’s financial standing so far fails to impress:
- Cash – $743
- Total assets – $67 thousand
- Total liabilities – $734 thousand
- Quarterly revenues – $48 thousand
- Quarterly net loss – $25 thousand
UTRM‘s boastful declarations that it is to become the prime information provider of the cannabis community and the top legal adviser of the industry were optimistic indeed. Such statements may have entertained investors for a bit, but ultimately the claims that UTRM is on its way to becoming the Google (NASDAQ:GOOG) of the marijuana world can’t help but sound ridiculous.
Once the hollowness of the assurances that kept the company afloat is summed up with the disastrous figures in their financials, it becomes immediately obvious why UTRM is presently crashing this hard. Indeed, it is a wonder that it didn’t crash sooner.
Another marijuana company that surpassed all growth expectations is Rapid Fire Marketing, Inc. (OTCMKTS:RFMK), who rose 71.88% yesterday.
