The last two weeks have been incredibly volatile for Xytos Inc (PINK:XTYS). On Oct. 17, XYTS stock shrank to a six-month low of $0.14 per share only to make a triumphant return shortly afterwards.
Last Friday, the company pledged to be a regular update provider to its stockholders from now on, providing a comprehensive report on its current activities. In addition, managers also proudly announced that XYTS stock was just about to finally start trading in Germany after all the necessary steps had already been brought to a successful end. As a result, XYTS went up 7% to close the session at a six-month peak of $0.30 per share, triggering a massive paid promotional campaign worth $65 thousand. Not bad for an OTC limited information provider, isn’t it
As if to capitalize on this momentum, XYTS wasted no time in providing another press release prior to yesterday’s session. According to the news, XYTS had now been given a considerable financial injection. The transaction, which was reported to have come to fruition after a few months of negotiations provides XYTS with the opportunity to continue its R&D activities without diluting its current stockholders. What has remained undisclosed, however, is the actual size of this funding commitment, which makes it very hard to predict what exactly XYTS managers will be able to achieve in the foreseeable future.
Formerly known as ISM Holding Corp., Xytos Inc used to deal with sports management. Subsequently, the company’s development took a completely different turn. At present, XYTS is a bio-technological company specialized in creating next-generation technologies in the fields of stem cells therapy and cancer to name but a few.
In terms of financials, the company appears to be catching up real fast. A tiny quarterly report, which has been available for two weeks now, indicates that the second quarter of 2011 has turned out to be the third negative in a row for the company with a net loss in excess of $81 thousand. Of course, the document does not reflect the mysterious funding commitment mentioned above.
Whether or not XYTS will achieve a breakthrough in the bio-technological industry is to be seen in the months to come. In the best-case scenario, XYTS will skyrocket on the charts. Otherwise, it will most probably continue to linger in pennystockland.
