After the expensive $50,000 stock promotion in which the stock of Proteonomix, Inc. (OTC:PROT) was involved at the end of last month, the stock price had gradually tanked to $0.32. Last week, PROT started rising up again, which led to the stock being included in new promotional alerts yesterday. In addition, the company announced news on Friday afternoon, which could also affect trading today. 
On Friday PROT closed the market with a 14.1% increase in its share price at $0.51. Trading volume was higher than the average with 31,750 traded shares, which does not look strong enough to bring PROT back to the higher trading range before the stock became subject to a promotion on October 20 this year.
Today, however, PROT could jump up again as on Friday the company issued a promising press release and as the previous promoters of the stock sent trading alerts yesterday afternoon to distribute the news. According to the PR, and to the promotional alerts, the company might be very close to a market launch of a commercial product as the Cosmetic Ingredients Review Board has approved and assigned an INCI nomenclature to PROT Matrix NC-138 cosmetic product.
That might sound like good news, but it does not necessarily guarantee profits for PROT shareholders. As already reported, the company is according to its latest financial report in a dire financial condition with a huge working capital deficit and needs to raise additional capital in order to keep existing – something the management has not been very successful in recently.
Additional dilution risk comes from the fact that PROT has an outstanding convertible note due on demand, as well as convertible proffered stock. That could double the number of the currently outstanding shares of common stock.
