Yesterday, Global Health Ventures, Inc. (OTC:GHLV) gapped up at market open as investors were expecting the filing of the company’s latest quarter report. The 10-Q appeared then later during the day and GHLV share price jumped one more time.
GHLV surged up to the upper trading band at $0.09 and then closed at $0.073 for a share with a 31.29% gain in value from Friday close. This was the fifth consecutive session in which the stock gets excessive volume and gains value. In that time GHLV has almost doubled its value and the trading volume yesterday reached 11.96 million shares, seven time more than the average for the past 30 trading days.
The latest surge of that kind at the end of March happened after the stock was highly praised in a promotional e-mail that did not contain a compensation disclosure. This time it looks like the expectation of the company’s latest financial results got traders so excited. For today’s session, GHLV got also on the watch list of one of the popular stock promoters, which could make it jump even higher.
At first glance, the filed with a delay yesterday 10-Q shows that Global Health Ventures has still no revenues whatsoever, more cash in the bank at the end of February 2011 than at the end of November 2010, but also more debts. The company has almost twice more convertible debt than at the end of last May.
In March last year, the company sold a convertible debenture to an investors. Due to events of default on that loan under the terms of the agreement, the interest rate was raised from 6% per year to 12% per year and the conversion price was amended to provide a 10% discount to the market price of the stock. The booked net carrying amount due under the debenture at the end of February 2010 was $883,301.
