If you notice a slight surge for ITonis, Inc. (PINK:ITNS)
at the start of today's session, you would be better of knowing that a promotional email
was sent yesterday evening to create awareness about ITNS stock today.
Yesterday, ITNS closed trade at $0.036, down 1.37% from its previous close on Friday. Barely 180 thousand shares changed hands, way below the average volume of 876K.
Technically speaking, ITNS is far from a breakout. It is traded well below both the MA(50) and the MA (200), the RSI value resides around the 45 level giving neither oversold, nor overbought signals. That is why, ITNS is unlikely to take anyone by surprise despite the ten-thousand-dollar paid advertising effort mentioned above.
Newswise, the company has not issued any press releases apart from the update made by CEO Mark Cheung on Mar. 15. According to the latter, the company's accountants are 'working hard' to turn ITNS into a fully-reporting SEC filer. A new scientific technology acquisition was reported to be in the works, as well.
ITNS's latest acquisition is Paramount Discoveries, Inc. The latter appears to have developed a high-potential technology capable of magnetizing carbon, salt and silver, which in turn could bring about significant enhancements in a wide variety of industrial, agricultural and manufacturing processes.
Being a development stage company, ITNS reported cash reserves of $18,811, working capital deficit of $5,784 and a net loss of $85,784 for the nine-month period ended Aug. 31, 2011. A full-blown annual report is expected to be published shortly.