Chart position of Genesis Biopharma Inc. (OTC:GNBP) has been rather unstable this week. Each time the stock price jumped 
up, the climb was broken and the price was down again. The same thing happened yesterday, when GNBP lost 4.27% on the market and its traded volume decreased.
So what’s next today? Looks like, this time Genesis decided to support its stock price by promotions.
The campaign was held yesterday, when GNBP got promoted by two promotional websites for a total compensation of $8,000. The promoters shouted out that the stock was ready to bounce, though it’s still to be seen.
Meanwhile, the company has not released any news on its business since last week. The latest announcement dates from March 22, when Genesis reported they had appointed Mr. Hans E. Bishop as Executive Chairman of their Board of Directors.
After this news was published, no further data on the company was to follow.
Genesis Biopharma, Inc. engages in the development and commercialization of autologous cell therapies for the treatment of various cancers. Effective March 13, this year, GNBP entered into a seventh amendment with all the holders of the company’s previously issued Tranche A Senior Unsecured Convertible Notes and Tranche B Senior Unsecured Convertible Notes whereby the maturity date of the Notes has been further extended from March 13, 2012 to March 30, 2012.[BANNER]
A week earlier, Genesis filed a notification of late filing in connection to its annual report. The notification stated that GNBP was unable to file its 10-K for the fiscal year ended December 31, 2011 by the scheduled filing deadline because of the recent change in the company’s business and the change in the company’s status as an accelerated filer.
In other words, the present financial condition of Genesis is unknown, while the company’s last quarterly report states that GNBP has been operating under a going concern.
