Sarissa Resources, Inc. (PINK:SRSR) has been flying up at full speed since last Friday. Yesterday, the stock soared the next 
40% on the market, trading over 9 million shares for the day. The question is what has caused the sudden up move?
Historical data shows that Sarissa has not released any news since end-May, when the company reported the acquisition of additional claims in the Shining Tree area of Northern Ontario. Being announced, SRSR stock price rose up, however, it was back down shortly. Since then, nothing was heard by the company. Though, presently the stock is climbing up unreasonably.
As a result of the massive trade, traders on the investorshub.com message board opened a discussion, trying to find an explanation on the gain. Some of them claim that it was related to an “X” dividend date that has not yet been announced, or it has been passed already. However, there is no official news by Sarissa and investors keep waiting for it impatiently. In any case, the company should react fast unless it has planned another way to hold the gain.
Meanwhile, the situation for Sarissa is not bright at all. According to the OTC Markets website, the company may not be making material information publicly available, thus the last report on the website dates from April, this year. Namely, that is the interim financial report of SRSR for the year ended December 31, 2010.[BANNER]
According to the report, liabilities of Sarissa are much higher than its total assets, while the company’s deficit is over $5 million. At the same time, SRSR has not covered its long-term liabilities and its stockholders’ deficiency got over $1.5 million.
The bigger issue, however, is that Sarissa earns no operating revenues and its ability to continue as a going concern is uncertain and is dependent upon the generation of profits from mineral properties, obtaining additional financing or maintaining continued support from its shareholders and creditors. Meaning that unless additional financing is ensured, the continuation of Sarissa might be considered as questionable.
