Power3 Medical Products, Inc. (OTC:PWRM) has been massively promoted since last week, though the result was negative. 
Finally, the campaign worked out and the stock hit a phenomenal gain.
Yesterday, PWRM soared 13.73% and its traded volume exceeded 17 million shares for the day. Apparently, promotions pumped up the stock price at last, however, this time supported by a piece of news.
The announcement came up just yesterday, when Power3 reported the assembly of the foundational elements of its initiative to enter the adult stem cell arena. The initiative included a body of work on proof of concept, the conclusion of the company’s diagnostic blood test and a preliminary agreement for co development with a company that manufactures stem cell culture equipment.
Obviously, the positive news accompanied by the series of promotions influenced PWRM stock price and it got the climb at once. Now the question is how long it will resist.[BANNER]
Unlike its latest press release, the last 10-Q report of Power3 looks disastrous. As of September 30, the company’s liabilities were significantly higher than its total assets, while the stockholders’ deficit jumped over $3 million. At the same time, the revenue is missing, and the accumulated deficit keeps increasing.
Based on these results, the management of PWRM claims that their current cash resources will not be sufficient to sustain the company’s operations for the next 12 months. Thus, if they are unable to obtain additional funds, this could have a material, adverse effect on their business, financial condition and results of operations.
