from its price and the up move was broken. Unlike the price fall, OXIS traded the huge volume of over 5 million shares, which is very unusual for the stock.But what’s the reason for the sudden volume rush? Following the records, the only reasonable explanation appeared to be the recent positive report by the company. According to it, OXIS was to introduce its new Ergothioneine-Based Supplements next month. The company is highly optimistic about the products and the new market opportunities.
As soon as this announcement was published, OXIS started to gain, though the positive price change didn’t last long. Recently, the company released another report on its publication in the ‘Toxicology’ Journal and on its successful safety study. Apart from this, OXIS was promoted by ShamrockStocks.com, however, the promotion couldn’t support the stock much. Apparently, the investors are not much enthusiastic about it at the moment.[BANNER]
OXIS International, Inc. is engaged in the research, development and sale of products that counteract the harmful effects of “oxidative stress.” In October last year, the company traded at approximately $0.40 per share, though since then the stock has moved down.
According to its latest quarterly report, OXIS has not generated any revenues and gross profit yet. The company’s assets are much lower than its liabilities, and the stockholders’ equity totals over $5 thousand.
In its 10-Q, OXIS stated: “We presently do not have any available credit, bank financing or other external sources of liquidity. We will need to obtain additional capital in order to expand our operations and fund any unanticipated increases in our administrative expenses.” Based on the company’s financial condition, there is substantial doubt about OXIS’ ability to continue its operations.
