Pressure BioSciences, Inc. (NASDAQ:PBIO) has been on the progressive move over the past couple of days. The climb started 
on Wednesday, and yesterday the stock added another 16.44% to its price.
Along with the price jump, traded volume of PBI also flew up, reaching over 395 thousand shares for a day. Though, it seems that the company is ambitious to climb higher on promotions.
Yesterday, PBIO got promoted by a few promoters for a total compensation of $100,000. Apparently, the company has paid two of the promotions by itself as there was no third party related to the alerts. Besides, Zacks Equity Research gave to PBIO a $5.00 share price projection over the next 12 months, though the current price of the stock is only $0.85.
Pressure BioSciences, Inc. engages in the research, development, and commercialization of products using pressure cycling technology, a platform technology for the control of bio-molecular interactions in the US. The last announcement by the company stated that PBI has closed on an $800,000 private placement with the sale of units consisting of a total of 971,867 shares of restricted common stock and 485,937 warrants to purchase restricted common stock. The units were issued to seven investors participating in the private placement.
Presently, there are no updates on PBI but the stock is climbing up.[BANNER]
As of September 30, 2011 the company’s cash and cash equivalents have decreased by almost 50%, while the net loss remained substantially high. At the same time, the accumulated deficit exceeded $14.5 million.
Apart from the Private Placement Agreement, during the three months ended September 30, PBI has received loans in the aggregate amount of $412,000. Nevertheless, the interest rate under the promissory notes is 20% per annum.
Based on the projections, the company’s management believe their current cash resources will enable them operate by February 2012. However, the team will still need substantial additional capital to fund their operations in the following periods.
