Verde Science Inc (OTCMKTS:VRCI) Crashes Horribly

[[tagnumber 0]][[tagnumber 1]]Verde Science Inc (OTCMKTS:VRCI) has been sliding down the charts for quite some time now and we often see sessions in which there isn’t a single traded share of the company’s common stock. The last time we saw some decent volume was back in the beginning of June and the reason for the excitement was a paid promotion.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Since then we see that the slide of the company stock has gotten steeper and the volumes had dropped to their usual levels, proving that [[tagnumber 6]]VRCI[[tagnumber 7]] is highly illiquid. The company itself is seems to be in quite a desperate place, especially when you take a quick look at the balance sheet from the report for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $8,990[[tagnumber 13]] [[tagnumber 12]]total assets: $18,157[[tagnumber 13]] [[tagnumber 12]]current liabilities: $953,743[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: $354,411[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So, as we can see, the numbers we can find in [[tagnumber 6]]VRCI’s[[tagnumber 7]] report are far from exciting. What’s a bigger red flag, however, is the dilution that the stock underwent. As we previously wrote, the company exercised a 1 for 280 reverse split earlier in this year, leaving the outstanding share count at 467 thousand. By April 15 that number had grown to 23.117 million that came from conversion of debt.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Recently we see that the volumes have been picking up. This comes after the company finally decided it was time to issue some press releases. The latest press release from yesterday announced that Dr. Juan Sanchez, a neurologist, will lead the company’s Huntington disease study.[[tagnumber 2]] [[tagnumber 0]][[tagnumber 34]] Strangely enough, the news didn’t boost the price of [[tagnumber 6]]VRCI.[[tagnumber 7]] The ticker fell a whopping 34.69% and closed at $0.032 while a total of 2.53 million shares generated $88 thousand in daily dollar volume, a record for [[tagnumber 6]]VRCI’s[[tagnumber 7]] stock.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session has started even worse, with the ticker trading 53.12% in the red just less than an hour into the session.[[tagnumber 2]]