jumped up by 88%, accompanied by the shocking volume of over 11 million shares traded. Quite an incredible price change as compared to the usual market values of GHLV.Following the records, there is an absolutely reasonable explanation on the high trade – promotions and good news. Yesterday, GHLV was promoted four times during the day, which obviously has pumped up the stock price at no time. The promoters appeared to be different, however, neither the third parties nor the compensations were revealed.
Along with the promotions, again yesterday GHLV reported that the European Union has just approved the use of the company’s lead therapeutic drug that is similar to Viagra®. Dr. Hassan Salari, President and CEO of Global Health, was satisfied with the approval and was planning “to file with the FDA within next few months”. The optimistic announcement additionally pushed up the stock price of Global Health Ventures and it was secured successfully.
Global Health Ventures is a specialty pharmaceutical company with expertise in drug delivery and formulation. In March 2010, the stock price exceeded $1.00 per share, however, its current trading range varies between $0.03 – $0.07.[BANNER]
According to its financial report, as a development-stage company GHLV has no revenues, though the deficit accumulated during the development stage exceeds $6 million. As of November 30, 2010 net loss of GHLV totaled over $960 thousand and the company had no sufficient cash to cover it.
In that case, as claimed in its report, the company “is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future” and its continuation is dependent upon the continued financial support from its shareholders, the ability to obtain equity financing and the attainment of profitable operations.
