At market’s close on Friday, the shares of UNIVEC were 1,566.67% more valuable according to traders than on Thursday. The impressive overnight gain resulted in a close at $0.005, but the value for the trading volume impressed even more. 173.25 million shares were traded during Friday’s session, a number almost corresponding to the entire amount of outstanding common shares of the company, which is 181.21 million according to the filed on Friday quarter report.
Unlike the reaction of the share price to the newly initiated alerting campaign, the financial report does not reveal any other marvelous facts about UNIVEC. At the end of September, the company had total assets of $3,919, mostly in cash, and $3.18 million in total liabilities, mostly in notes. UNIVEC states that its business is to produce and market “specialty pharmaceutical drugs”, whereby the revenues increased in the three months ended September by 21.5%, to $972.
The latest news about the company was released at the end of September, shortly before the previous alerts made the share price surge and hit the $0.0055 level. But just like previously, it looks like again the hope for some speculative profits made traders so excited on Friday. Today, UNVC did not make a good start, flying 40% down at market’s open.
In September, UNIVEC filed an 8-k according to which it has added $60,000 more to its debt by selling more convertible notes. The new loan is also secured by all the assets of the company, which with the above mentioned assets available and with the favorable pricing upon conversion automatically makes the conversion into common shares look inevitable.
