GHLV closed the last trading session at $0.0612 with a 5.70% increase in the share price from the previous day. Volume was above the average with 2.57 million shares traded and RSI is going up, entering an area in which more buyers could occur today. Also worth mentioning is that a new promotion for GHLV stock has started yesterday evening.
The promoter has done extensive coverage on Global Health Ventures and the potential drugs that the company could launch on the market. No compensation has been disclosed, but promoters rarely do such advertising for free and a complementary disclosure statement could be mailed later. On its website, the promoter also says that its affiliates could be actively trading the mentioned stocks with the purpose to profit from a sharp share price increase.
Global Health Ventures stage of development and financial condition hardly suggests a higher value for its stock. The company engages in acquiring and licensing health care-related technologies for further development and re-licensing to major pharmaceutical companies. GHLV has yet no revenues and no marketable products, and it is possible that it has run out of cash by now. In addition to that, the stock is holding more dilution risks that arise from a convertible debenture with a carrying value of about $369,000 as of end November 2010.
During the six-month period ending November 30, 2010, the lender converted $642,000 of that debenture into 10.47 million new shares of GHLV common stock, and the company has allowed to subsequently convert another $359,519 into another 10.5 million shares. The company also issued 250,000 shares to an outside consultant, and has committed to issue another 250,000 on April 1, 2011.
