Texas Oil and Minerals, formerly Bionic Products Inc. (PINK:BNDP), is pretty new to the market. It managed two significant surges. The latest announcements couldn’t make much of a difference, though.
Yesterday, BNDP lost 5% of its price and closed at $0.0228 with 540 thousand shares traded.
The slight drop happened despite a paid promotion for the day. In all fairness, the promotion was rather cheap, and right now BNDP doesn’t have much to offer to investors.
On June 21 BNDP issued a PR informing traders the company has published its updated balance sheet. This didn’t seem to have any significant effect on the market. It wasn’t much of an update, either. It simply reflected the acquisition of some assets worth $17 thousand.[BANNER]
While the oil and minerals sector offers a lot of growth potential, there is no guarantee that a company will succeed. BNDP is just starting out, and seems to still be far from appealing to investors.
It would be a good idea if they provide links to their site in coming PRs to actually have the site running beforehand. Additionally, for some reason, OTC Markets, Google Finance and Yahoo Finance haven’t reflected the change of the company’s name yet.