On Friday, TapImmune, Inc. (OTC:TPIV
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) stock closed the market without a change in the share price, but this does not mean the market looks consolidated. For today's session, there is a new promotional campaign and a press release from Friday afternoon.
The last session closed again at $0.19, but the trading volume was much higher than the average with over 607,000 traded shares. That signals that today might be a stronger trading session that could result also in an increase in the share price for which $0.20 has been a level of resistance recently. TPIV share price has also has a broad trading range between $0.14 and $0.20, which offers good opportunities for trading.
Today, two things could move TPIV price. Yesterday evening, we received several promotional e-mails focused on TPIV and compensated with $45,000 paid by a third party. That compensation is considerable and is likely to have a substantial effect on the market, yet the effects of most promotions usually does not last for more than a few hours.
The other factor that could act in favor of TPIV is the company's last press release that got announced exactly at market close on Friday. According to it, TapImmune Chairman and CEO, Dr. Glynn Wilson, will make a presentation at BIT's 2nd Annual World Congress on Immunodiseases and Therapy to be held in Guangzhou, China on November 18-20.
TPIV 10-Q for the period ending June 30, 2011 came out in August. It shows only $92,000 in total assets and debts exceeding $1.8 million, among which a convertible note for $504,000. The capital raised over 2010 and 2011 has been used to repay the company's debts and currently TPIV is again poorly financed an unable to fund its research programs.
Management intends to seek additional sources of funds, keep restructuring the debts and enter into strategic partnerships, but nothing of that looks certain and provides no fundamental base for the stock value to increase.