Up And Down The Charts With Bio Matrix Scientific Group Inc (OTCMKTS:BMSN)
Bio Matrix Scientific Group Inc (OTCMKTS:BMSN) is going up and down the charts for a long time, after they fell and started to trade at the double-zero prices making the company’s stock is currently one of the riskyest ones in the OTC Markets.
We bet that the non-stop up and down movement of BMSN‘s stock is driving investors crazy, especially those who have set their minds on going for the long run. Recent movements don’t beg to differ much. After the descent in late March and April the company’s stock has been struggling to catch up with its previous prices and it’s unknown where it will go.
Their struggle becomes evident when you take a look in their chart and see the inconsistency of their stock’s movement. Most recent trade sessions don’t beg to differ. Yesterday their stock gained 26%, but that happened on really low volumes considering BMSN‘s average of 59 million shares.
Yesterday a total of 15 million shares switched hands as the company jumped from $0.0031 to $0.0038. Trading was intence through most of the session and the biggest spike was right before 01:00 PM when they reached the $0.004 mark in the midst of frantic trading of stock. Most of the trading happened at the time of the days high and the stock dropped a bit only to finish the session at $0.0038.
The company hasn’t been pumped from May this year, but that’s not that big of a deal as they have other problems. What worries us the most are their financials and the fact that they lack property and equipment, which in term means that even if they get an FDA approval for their drug HemaXellerate they would not be able to produce it. Let’s take a quick moment to check the numbers of prime interest from their financial report covering Q1 of this year.
- cash: $10 thousand
- propery & equipment : $0
- total assets: $129 thousand
- current liabilities: $1.8 million
- revenue since inception: $0
- net loss: $941 thousand
Another even more disturbing thing is that the company is sharing an office with another penny stock that has Richard Koos at its helm and that is Entest BioMedical Inc. (OTCMKTS:ENTB). Well, guess what. ENTB has even worse financials and it seems as if Mr. Koos is a specialist in crashing tickers to the ground. You can see that ENTB was traded at above $4 in 2011, however, it is now making company to BMSN in the charts of the double zero tickers.
Another company that did good yesterday, but is starting today’s session badly is Quantum International Corp. (OTCMKTS:QUAN), who jumped 15% yesterday to $0.32, but since the start of todays session their price dropped as low as $0.29. The session is still on, however, and no one can tell how it’s going to end.
