Entest BioMedical, Inc. (PINK:ENTB), touted by a promoter, opened with a gap up, giving those who had cheap shares an opportunity to dump them for a decent gain.
Of course, for those who bought in at the open making a profit will not be so easy. Most of the time ENTB stock isn’t liquid and recently it has been trading a lot lower than today’s open; yesterday ENTB closed up 1.69% at 3 cents per share.[BANNER]
The pump mails were well-timed. The first one was sent yesterday after the close and the second one from this morning came out shortly before ENTB issued a press release. The promoter expected to be compensated $20 thousand.
The press release doesn’t contain anything sensational. ENTB is excited with the progress on a dog pilot study. Treated dogs had shown improvement.
The company has generated some revenue but it hasn’t been enough to turn a profit and get close to being enough to sustain operations.
Recently, the company announced a financing agreement with Southridge Partners II; a quick look at the performance of companies that had entered into similar agreements with Southridge doesn’t look promising.
It is theoretically possible people who bought high today could break even one day, but at the moment the situation of ENTB isn’t enviable. On the other hand, if one was holding cheap shares before the pump, today’s open would have been a wonderful opportunity to rake in some profits.
