trade about 4 million shares for a day.However, the reason for the high trade remained unknown as there is no recent news about VTMS and as no one is familiar with its current activities.
Vitamin Spice is a development-stage company that develops and markets a line of vitamin-enriched gourmet spices. Historically, the company used to trade higher, however, this year the stock price has moved down sequentially.
In mid-October, VTMS filed its financial results and nothing further was heard about the company.[BANNER]
According to its quarterly report, the company’s financial condition looks disastrous. Its liabilities total over $10 million, while the total assets are about $44 thousand. Besides, by end-June VTMS had an accumulated deficit of over $12 million and no revenues at all.
As the losses continue to increase and as the company has no cash for its operations, this raises a substantial doubt about its future existence. The management claims that they “may attempt to raise additional funds by way of a public or private offering”, though there can be no assurances that they will succeed.
Based on these facts, we cannot be certain about the future movement of VTMS stock.
