News about a production agreement with an FDA approved manufacturer pushed the stock of Global Health Ventures Inc. (OTC:GHLV) up 25% during yesterday’s trading session.
Closing at $0.0614, GHLV set a four-week high. Moreover, it registered an even longer record in terms of volume as almost 8 million GHLV shares changed hands, the highest number for the last four months. The latter is also head and shoulders above the daily average trading volume of 1.9 million.
Considering the total lack of promotional activities around GHLV stock for quite a while now, the only driving force behind yesterday’s positive run is the press release mentioned above. As it seems, GHLV has finally found an eligible manufacturer of its flagship product, i. e the X-Excite therapeutic drug. Ready to be produced in large volume, GHLV’s X-Excite is designed for sexual enhancement, just like the Viagra (R) drug.
Founded in 2006, GHLV defines itself as a development-stage company specializing in the acquisition of health care related technologies. Its proprietary platform technology allows for delivering drugs through the sublingual route. Along with the aforementioned X-Excite, the company has developed a couple of other drugs such as the Relax-B, the Nico-Z, etc.
GHLV has stuck to a highly transparent financial policy. On Apr. 18, it filed its latest 10-Q report covering the quarter ended Feb. 28, 2011. According to the unaudited balance sheet, GHLV finished the quarterly period with:
- $1.14 million in cash;
- a working capital deficit in excess of $0.55 million;
As long as GHLV has enough cash to cover its liabilities, the company will be able to continue as a going concern. Moreover, if its sexual enhancement product meets with success among prospective consumers, it will be in for a continual positive run on the charts.
