Without any notice, or apparent reason, Vantage Health (OTC:VNTH) stock surged yesterday after being traded rarely and in insignificant volumes.
The price of VNTH went 39.33% up on approximately 1.6 million shares to close at $0.418. This sudden jump came as a surprise for some people.
The company is not being promoted, as far as we know. There are no press releases or news published by the company either.
According to VNTH’s 10-Q, the company was incorporated on April 21, 2010 in Nevada. It hadn’t started operation as of December 31, 2010. The report reveals that on that date Moxisign Ltd, a subsidiary of the company, had entered into an agreement that gave VNTH the exclusive rights to sell an HIV diagnostic kit on the continent of Africa.
The agreement is for 12 months and will be terminated if the company doesn’t place an order for $500 thousand worth of kits withing six months of the agreement date.
An 8-K filed with the SEC later reveals Moxisign had submitted a proposal for the supply and delivery of kits to the Republic of Tanzania. Of course, there is no guarantee the company will get the contract. If they do, however, it will be a step in the right direction.
The information above was available to the public long before yesterday’s surge, so there is another reason for the action. At any rate, the action on its own may be enough to get some more eyes on the company.