A quarterly statement 2 weeks ago, three promotions on Sunday, then news this Monday – just a glance at what has been going on with Entest BioMedical Inc.(PINK:ENTB) recently. Looks like a regular month for a pink sheet company, but this July is certainly not one. A lot of peculiar details are out there, when doing the due diligence. 
So, it seems that the catalysts at hand works. The session just started and the trading volume is already half that of the all-time high. Not that the all-time high is really exceptional. It was reached last Friday and the number is 85k for the day. The usual trading volume is around 20k, but it is not actually the number of shares traded that is the interesting part in the story.
First of all, the increased volume from Friday has its reasons – the 8K released, which is also covered in today`s press release – the Letter of Intent for buying a veterinary clinic. Non-binding one, as the 8K shows. The interesting part comes after a closer look at the type of trading done last week. These are the figures:
- Monday:17,826 – 29,294;
- Tuesday:5,435 – 19,181;
- Wednesday:43,282 – 53,532;
- Thursday:17,942 – 23,117;
- Friday:69,907 – 85,186;
The second figure represents the total trading volume for the day, the first one – short selling activity. So, a pink sheet, which shorts obviously like, given that they are responsible for most of the trading activity. Yet to see whether the same pattern would apply this Monday, as well. [BANNER]
Speaking of figures, the balance sheet is another source not to go overlooked. As mentioned, a quarterly statement came out two weeks ago. The 10-Q in question, covers the first 3 months of the year and includes the following, among other figures:
- $55k in cash;
- $139k in total current assets;
- $282k in total current liabilities;
- $1.5 million in accumulated deficit;
- $110k in revenues;
- $191k in net loss;
With these figures in mind, coupled with short-selling activity and the LOI, it is high uncertainty that surrounds the development of this stock. Currently, it trades above $1 per share. What the share price would be in one week is a hard question to anwer.
