It looks like the new year did not bring anything new about Neuro-Biotech business, at least judging from the lack of any new SEC filings. The new stock promotion that started yesterday is also not really a surprise, as the promotional periods for MRES stock can be well recognized on its price chart.
This time the high volume of almost 11 million shares traded during yesterday’s trading session allowed for a 36% gain within the session, but had absolutely no effect on the closing price. MRES closed at $0.033 for a share, which still makes a market cap of over $21 million, due mostly to the more than 662 million outstanding shares of the company.
A promotional disclosure from yesterday shows that promoters shared a total compensation of $30,000, paid by a non-controlling shareholder party. That can only imply that this third party is holding shares that it plans to sell off on the market. Since the share price did not move up, it remains open if the current market valuation has been found reasonable by the paying third party, or another push up attempt shall follow.
As MRES had at the end of last September zero current assets and not a single dollar revenue since inception, the promoters’ newsletter did not even try to advertise the management’s future visions focused on “the realm of neuroscience”. Instead, the fact that MRES gapped up at market open yesterday morning has been pointed out as a good reason to watch the stock.
