Apparently, Compass Biotechnologies, Inc. (OTC:COBI) is determined to continue the current up move. Last week, the stock
started to climb up and it is still holding the gain. Though, it turns out that the bullish trend has been fueled up additionally by promotions.
COBI was first promoted on May 26 by Nebula Stocks and yesterday the campaign was on again. This time it was much stronger as there were a bunch of promoters who alerted on the expansion plans of Compass. The total amount for the campaign reached $94.000, though only one of the paying parties was revealed. In any case, the stock alerts were meant to fuel up the climb for COBI and the result will be seen shortly. However, the big issue for Compass remains the same – its poor financials.
As already reported on hotstocked.com, apart from the fact that the company has no revenues, it also has not yet completed the development of its first product and doesn’t have any immediate customers. Besides, the products and technologies that COBI is currently researching and developing will require regulatory approval by governmental agencies prior to commercialization, apart from the number of risk factors concerning the company’s business.[BANNER]
In the meantime, COBI keeps accumulating deficit and incurring huge losses that it cannot cover. The so called “Management Team” tries hard to save Compass by selling shares of common stock, though there is still no hope for the future. Especially when the financial report states that the company has no employees other than its directors and a sole officer. Obviously, Compass relies only on promotions to move it up occasionally.
