While Carbon Sciences, Inc. (OTC:CABN) technology has not made the break through yet, two good stock promoters take care for the break through of the stock this year. Yesterday, the stock promotional campaign delivered again excellent results.Just like in the beginning of June, yesterday the same stock promoting company disclosed another promotional attack for Carbon Sciences’ stock. With the excitement about Monday’s press release on the successful synthesis of a proprietary raw catalyst still holding on, the market’s reaction was again remarkable. The stock surged 28.79% right after the market open and closed at $0.102 on more than 7.1 million trading volume.
As a compensation for the successful advertising, both in June and yesterday, the stock promoter purchased one million restricted shares and received $25,000 in cash, paid directly by the company. Previously, in the middle of June, another stock promoter helped the stock bounce off its price channel and got compensated by $20,000, this time from a third party.
Considering the intensive issuing of new shares over the past months, it seems kind of reasonable that Carbon Sciences have spent nearly half of the cash they had on hand at the end of June on promoting their stock. The technology to convert carbon dioxide into gasoline will require a lot of further research and development before it gets licensed and can generate revenues, thus the shares of common stock seems to be the only marketable product the company currently has.
To compensate the employees, in April the Board of Directors of Carbon Sciences granted stock options for 20.5 million shares of common stock, whereby the options have an exercise price of $0.073. The granting of these option caused $1.23 million in additional expenses, which in turn made the net loss increase to $1.5 million as compared to 319,000 for the same period last year.
During the six months ended this June the company issued another 8.86 million new shares for cash, which was also the main source of liquidity not only in that period, but also since the Carbon Sciences’ inception four years ago.
