The total gain over the day was 13.24% and OXIS closed the trading at $0.119 for a share. The impressive news was that a patent dispute between the company and a subsidiary of Estee Lauder has been settled. Under the agreement reached, OXIS will get the full title to two patents on a technology, that will according the company’s president, provide unique chances to attack the growing number of consumers searching to fight the effects of aging.
That market is admittedly an attractive one, though it is not clear when OXIS can make a profit from that. The company has not had any revenues this year, but a loss of $1.7 million and lacks another $5 million to cover its most urgent debts. Further, no sources of liquidity are currently available and the management has no plan yet as to how the new business model will be financed.
Ruling the disastrous fundamentals out, OXIS stock seems to live on some irrational investor expectations, which have been deliberately supported in the past by certain interested parties.
No promotions for OXIS have been disclosed since an unknown spender paid $300,000 for the appreciation of the stock in March this year. Though, last Tuesday OXIS was profiled by certain not-registered online “financial consultants”, whose main business is to spread out free trading alerts to a large number of potential buyers and then make some trading profits from their own positions. Their latest strategy even involves misleading the readers through redirecting them over a link to a non-existent “PowerRating” for the promoted stock.
On the two days after the alerts, OXIS turned to a big “loser” and nothing changed about the sideways moves of the share price.
