time on the shocking volume of over 1 million shares traded. Looks like investors don’t feel much confident about RGIN and the stock sank deeper.The last news on Regenicin came up on Jan 18, reporting that the company has received positive feedback from attendees following the presentations at the OneMedForum conference in San Francisco a week ago. At the conference, RGIN presented its business model, including the company’s business strategy for this year. Mr. Randall McCoy, CEO of Regenicin, stated that the burn treatment market in the US was a $3 Billion Dollar opportunity for the company and that it is expected to achieve its goals in 2011-2012.
On the day this news was released, RGIN stock price jumped up by approximately 6%, though it was back down on the following day. On Jan 20, the company announced the former U.S. congressman Curt Weldon was going to represent Regenicin at 2011 Future of Financial Markets Conference in Mumbai, however, no further news on the company was released.
Looks like traders are already looking for something new, as the market position of RGIN stock is quite unstable. Now the question is what’s the next move of Regenicin?[BANNER]
Regenicin, Inc. is a biotechnology company specializing in the development of regenerative cell therapies to restore the health of damaged tissues and organs. Last September, the stock price exceeded $2.00 per share, however, since then is has moved down significantly. The company’s financials show that it has generated no revenues, though it has operating loss and liabilities that Regenicin has no cash to pay out. Above all, as of January 6, 2011 the company stated they had only 7 employees. Besides, RGIN has been constantly increasing the number of authorized shares of common stock by amending their Articles of Incorporation.
Based upon the company’s financial condition, it turns out they have been much more into the business of increasing shares of common stock, than into the development of regenerative cell therapies.
