Todor Pichurov

Biotech Products Services & Research Inc (OTCMKTS:BPSR) Fumbles

by Todor Pichurov March 9, 2016

It has been an interesting couple of weeks for Biotech Products Services & Research Inc (OTCMKTS:BPSR, BPSR message board). The stock went through quite a rollercoaster ride and eventually dropped 9% yesterday, settling at $0.85 per share by the bell.

BPSR is, sadly, currently in the “mystery meat” area of the OTC, with its “pink limited information” status. The company's fiscal year ends in October, which means BPSR should have filed its annual report by the end of January. The report is still missing and the latest available financial information on the company dates back to July 2015 – not exactly the type of gap that can give investors much confidence.

The numbers BPSR reported for the three months ended July 2015 were as follows:

  • $127 thousand in cash
  • $136 thousand in total company assets
  • $483 thousand in current liabilities
  • $61 thousand in quarterly revenues
  • $362 thousand in net loss

Those figures are far from inspiring and the fact that they are seven months old makes them even less appealing. The company followed through with a couple of 8-K filings that were of no huge consequence and had no visible impact on the share price at the time they were released.

The simple fact of the matter is that BPSR has not put up any sort of filing (save for a notification of delay) for three and a half months and its last PR dates to late January and was met with indifference by the market. This makes the sudden move up the chart and the obvious accumulation of volume starting in mid-February very confusing to say the least.

Additionally between late August and mid-October 2015, BPSR issued a body of shares amounting to about half a million shares that were sold between $0.35 and $0.50 per share, along with attached warrants to buy more.

In another week BPSR's quarterly report for the three months ended January will also become overdue.

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