Anastas Gegov

TNI BioTech, Inc. (OTCMKTS:TNIB) Still On The Rise

by Anastas Gegov July 15, 2014

Like many other stocks in the market, TNI BioThech, Inc. (OTCMKTS:TNIB)’s month didn’t start off very well, but things have started to change. After a long period of almost idle trading, which resulted in small volumes, the company made and interesting run in Friday for no apparent reason.

 

With no news and without a trace of a paid promotion TNIB jumped 19.05% on 7 times its average volume to a close at $0.25 per share, which resulted in a daily trade value of $466 thousand. This led to a feeling that the company stock might be finally waking up after the beating it received since the start of 2014.

 

Still, the financials don’t look well and we wonder how much potential the stock actually has to rise. Here are the numbers of prime interest from their report covering the period ended March 31, 2014.

 

  • cash: $233 thousand
  • current assets: $276 thousand
  • current liabilities: $3.2 million
  • total liabilities: $3.3 million
  • revenue since inception: $0
  • net loss: $17.5 million

 

And with all these numbers the company’s stock market cap is at $28 million. This is a bit of a shock, but we have seen such things in the OTC markets before. It seems, however, that the company’s management is creating some more noise around its stock after Friday’s session.

 

Yesterday it was announced that the record date for the Cytocom, Inc. spin-off has been changed in order to give and opportunity for the conversion of some remaining warrants that a priced between $0.50 and $1.50. The news isn’t much, but the upward movement of TNIB is still in place.

 

Yesterday the ticker gained 26.80% in value, but trading wasn’t as intense as it was in the last session before the weekend. The total amount of shares that came to change their owners came to 557 thousand, which constituted for a mere $153 thousand in trade value.

 

The ticker is still rising today, but you shouldn’t skip on doing your due diligence before making an investment decision.

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