Over the past days, stock price of Regeneca Inc (PINK:RGNA) has been constantly jumping up and down and its next step
looks absolutely unpredictable. After the loss on Wednesday, yesterday RGNA soared 6.87%, while its traded volume decreased. Though, the reason for the sudden price changes is still unknown.
The last news from the company came up on Nov 21 when Regeneca reported that it has launched a mobile technology which was the first to market of its kind in the industry. The news being reported, RGNA stock price immediately jumped up, though the gain lasted only for a day.
This week, Regeneca filed an amendment to its 8-K from August 9, this year. According to the agreement, the company’s Board of Directors appointed Dr. Phulgaonkar to the position of CSO and has agreed to grant him 30,000,000 shares of restricted common stock, which shares will vest upon delivery and testing of certain products.
On the date when RGNA filed the amendment with the SEC, the stock price jumped up again, however, it was back down on the following day.
Apparently, the company’s announcements failed to support its stock price for long, thus Regeneca chose promotions once again. After the numerous promotions in November, yesterday RGNA got promoted for a compensation of $12,000. Whether the alert will finally pump up the stock price is just about to be seen.[BANNER]
Meanwhile, the problematic issue for Regeneca remains the same – its financials. According to its unaudited quarterly report as of June 30, the company’s liabilities were far beyond its total assets and the stockholders’ deficit got over $4 million. At the same time, the revenues decreased and they cannot cover the losses.
In other words, unless RGNA obtains additional financing or suddenly gets profitable, its future operation cannot be not guaranteed.
