Share price of Proteonomix, Inc. (OTC:PROT) climbed to a new yearly high shortly before market close on Friday. That seems to be associated with an 8-k filed at the same time. 
PROT closed Friday session 82.69% higher at $0.95, which is also the new 52-week high of the stock. Even more, on Friday PROT traded over 466,500 shares in a day – the heaviest trading volume for the past year and over 10 times the average for the past three months.
It looks like the action was due to the last 8-k of Proteonomix, Inc. that was filed at around 15 pm on Friday. The filing stated that the company has amended the conversion rights of its Class A1 and Class C Convertible Preferred Stock to allow protection against most of the common sources of dilution.
Also, the company declares the creation of a new Class D Preferred Stock that is convertible at a ratio 10 common shares to 1 converted Class D Preferred share, and is again protected against dilution.
As seen on the chart, the signal has been positive and could last for a few more days, as opposed to the lack of any reaction to the news from Wednesday. It was related to PROT clinical trial of its UMK-121 technology that should be conducted in cooperation with the University of Miami.
Wednesday press release said PROT received the IRB (Institutional Review Board) approval for the trial. In some previous press releases, the company’s President also claimed PROT has secured the funds needed to cover its obligation of $105,000 to the University. It was not mentioned, though, how the money was secured, and the company’s latest SEC filings do not show the raising of any new capital.
