Tranzbyte Corp. (OTCPINK: ERBB) was forced to take back the good news that it had struck a deal with a medical-marijuana dispensary to use the dispensary units it sells.
On Jan. 28, just three days after the Tempe, Ariz.-based company had told the world it had reached a verbal agreement with PARC, a licensed Arizona dispensary in Phoenix to use its dispensary machines, it announced that a final written agreement could not be achieved.
The second about-face announcement then tried unsuccessfully to put a positive spin on the major misstep by saying that Tranzbyte expects to announce its new choice of lead dispensary locations within the week.
"While it would have made some sense to have our premiere location close to the Tranzbyte main offices, we will treat this as an opportunity to place our machines within states that possess a more open regulatory environment," Tranzbyte president, David Gwyther said, in a terse written statement.
It appears that some industry experts, who were unimpressed by the Tranzbyte’s first announcement, were right to dismiss it as just more hype backed with very little substance.
That’s because buried deep within the first glib PR release, Tranzbyte’s President David Gwyther would not commit to a date when the first medical-medical marijuana vending machine would actually be up and running.
“We expect the arrival of our first machine within the next few weeks,” Gwyther said in a written statement. “Originally, our first automated dispensary was slated for delivery by the end of 2013. However, enhancements and refinements of the machine's capabilities in November and December caused Tranzbyte to roll back the arrival date about a month,” he added.
On Jan. 29, ERBB share price closed at 0.0155 cents, down 0.0035 cents from 0.019 cents share price at the close of the previous day. Its stock volume continued to soar on the heels of the second announcement with 388,400,352 changing hands, nearly four times more than its three-month average of 105,556,514 shares,
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Another Company to Service Marijuana Industry
Yet another penny-stock company has decided to provide services for the much-anticipated and burgeoning marijuana industry.
Tampa-Fla.-based Neutra Corp. (OTCQB: NTRR) stock volume is soaring in part because of its latest announcement that it, too, is developing products to serve the legal marijuana industry. On Jan. 29, it traded 395,926 of its shares, significantly higher than its three-month average of 268,911 shares.
In a Jan. 23 release, the natural-wellness solutions marketer outlined its plans and the rationale behind them.
“Since the Justice Department set a precedent last year by allowing the first new state marijuana laws to go into effect, the floodgates are now open,” said NTRR CEO Sydney Jim, in a written statement. “More states are now set to legalize this medication--some of them soon. Analysts are predicting that this will grow into a $10 billion industry by 2018.” Jim added.
NTRR went on to say that it is working to capitalize on rising public demand by creating innovative new solutions for the growing industry. Alongside its partner Vertigo Technologies, Ltd., the company is developing a turn-key solution for indoor horticulturalists that includes all of the equipment necessary to grow strong, healthy plants as well as complete pre- and post-production prep work. All equipment would come pre-sterilized with anti-microbial coatings, eliminating the need for pesticides and antibiotics.
Neutra also contents that is product could soon make setting up a successful indoor grow faster and easier than ever before--a breakthrough with clear implications for the booming.
NTRR share price closed at 78 cents, down 6 cents from its closing price of 85 cents the previous day.
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Strong Buy Issued
Provectus Pharmaceuticals (OTC: PVCT), Inc.’s share price on Jan. 29 closed at $1.95, down 15 cents from it close of $2.10 the previous day.
The development-stage pharmaceutical company is developing medicines for oncology and dermatology applications. Provectus product line includes PV-10, a Phase II study completed drug candidate for metastatic melanoma, a Phase I study completed candidate for breast cancer, and a Phase I protocol expansion candidate for liver metastasis.
In addition it is conducting PH-10, a Phase IIc randomized study initiated drug candidate for the treatment of psoriasis, and Phase II study completed candidate for atopic dermatitis. It also develops PH-10 for the treatment of actinic keratosis and severe acne vulgaris.
Moreover, the company develops over-the-counter pharmaceuticals, including GloveAid, a hand cream with antiperspirant and antibacterial properties; Pure-ific line of products to prevent the spread of germs on skin; and Pure-Stick and Pure N Clear acne products.
Strong buy issued
Meanwhile, Small Cap Street, LLC issued a "Strong Buy," for Provectus stock in a research paper it released Jan. 23. The extremely positive analysis asserted that Provectus stock was undervalued by "nearly 2,000 percent," based on what it deemed the potential of the pharmaceutical's diverse portfolio.
Find out what could be the best investor’s move when it comes to PVCT by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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