All of a sudden, Vantage Health (OTC:VNTH) landed on the massive trade. Yesterday, the stock soared 6.35% and managed to trade over 4 million shares on the market. However, what is more interesting here is that the reason for the gain cannot be found yet.
Historical records show that Vantage has not released any news on its business since end-November, so no one is familiar with its current operations. Nevertheless, the stock price is climbing up.
The last news on VNTH came up on Nov 29 when the company reported that its 51% owned Tanzanian subsidiary was awarded Lot 1, Lot 2 and Lot 3 of the University of Dar es Salaam pharmaceutical and medical supply tender.
The announcement being reported, VNTH stock price jumped up immediately. However, on the next day it crashed back down.
Vantage Health is an importer and distributor of pharmaceutical products and medical consumables to the public and private sectors. In August, VNTH announced its subsidiary was finalizing a pricing structure for a supply agreement with an unnamed retail group.[BANNER]
However, “…the contract is expected to run from January 2013…”, and revenues from the contract will only be generated once MCC approves each drug dossier, so at this time it remains only an uncertain possibility.
At the same time, Vantage’s continuation as a going concern is in doubt and depends on plenty of risk factors, uncertainties and additional financing.