Two weeks ago, InoLife Technologies Inc (PINK:INOL) almost doubled its value on news about a brand-new Facebook page created especially for its Ancestral Origins (TM). Eventually, the Facebook page disappeared into the blue. Nevertheless, the gigantic surge had already become a reality.
The same movie rerun yesterday, albeit not at such a grand scale. Following a fresh PR, INOL stock went up 36% rallying to $0.003 per share. The volume spike, however, was even more spectacular. More than 172.4 million shares changed hands, marking both a five-fold increase over the previous day and a similar improvement over the daily average trading volume.
So, what did INOL have up its sleeves yesterday? This time, INOL came up with something that seemed much more viable than the fake Facebook page. In fact, the company revealed it had concluded a sales distribution agreement worth $300 thousand with Gulf Coast Pharmaceuticals, Inc. The subject of the agreement is, as expected, INOL’s DNA-based products. While what will come out of this transaction is still unclear, the prospects seem good.
Another difference in comparison with what popped up on May 19 is the fact that the current news has already been backed up by some trade alerts. Although any actual compensations have remained undisclosed, investors behind the campaign will definitely be expecting another jump today.
Should the above mentioned agreement prove successful for INOL, the company will definitely start improving its financial health. With a current working capital deficit nearing the $400 thousand mark, INOL needs to finally start generating sales revenues and, eventually, cover its net loss of $200K. Anyway, in the best-case scenario INOL stock might become much more attractive to penny stock traders than it is right now.
