Tauriga Sciences Inc. (OTCQB: TAUG) stock volume soared, with 15,766,148 shares changing hands, nearly three times its three-month average volume of 5,658,795 shares.
The tremendous surge in stock volume came a day before the Danbury, Conn.-based medical devise maker’s agreement to acquire what it described as “California's leading manufacturer of topical medicinal cannabis product since 2009.”
In the Mar.11 press release, Tauriga added that the products made by this unnamed manufacturer “were originally developed to assist people with: arthritis, sore/tense muscles, back/neck pain, sports injuries, cramps, spasms, and chronic aches. The long term plan is to aggressively expand its operations to other states and file for multiple patents to protect its unique formulations and delivery technologies.”
Mystery Company and Mystery Deal
Tauriga Sciences said it will reveal the identity of the California cannabis company that is being acquired within 10 days. All of terms of the acquisition have not yet been disclosed, but here is what the company did release:
“Tauriga has also agreed to pay to cannabis manufacturer, upon execution of the merger agreement $75,000 USD for working capital purposes, and within 10 days of the execution of this merger agreement an additional $100,000 USD for working capital purposes, which will be credited towards any financing obligations of Tauriga as part of the overall transaction,” the press release said.
It will be interesting to see how this announcement will affect TAUG’s stock volume and share price.
On Mar. 10, TAUG’s share price closed at 0.0315 cents, down 0.0045 cents from the share price of 0.036 cents the previous day.
Find out what could be the best investor’s move when it comes to TAUG by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Stock Loses Nearly Half Its Value in 5 Days
Meanwhile, Elite Pharmaceuticals Inc. (OTCBB: ELTP) stock volume continued to soar with 28,836,708 shares changing hands, nearly five times its three-month average volume of 6,445,514shares.
Yet, it share value has fallen by nearly 50% in the last five days.
On Mar. 5, ELTP’s share price closed at 94 cents up 11 cents from its share price of 83 cents the previous day. However, on Mar. 10, ELTP’s share price closed at 46 cents, down 20 cents from its share price of 66 the previous day.
Positive News on Recent Drug Trial
The sudden downturn comes on the wake of positive news coming from the Northvale, N.J.-based pharmaceutical company’s announcement of a Canadian patent approval and the good results of a trial on a drug it’s developing that delivers pain relieve without the euphoria associated with opiates, therefore no addiction or abuse.
"We are delighted with the results from our clinical studies and pleased to have confirmation of the formulation for our extended release product, ELI-201, our twice-daily oxycodone product and the progress of the second opioid," stated Elite’s President and CEO Nasrat Hakim, in a written statement. "We are also on track with the manufacturing site transfer of the 12 generic products Elite is adding to the product line. The transfers of these products have been prioritized and we will have additional supplements to file following these first two products,” he added.
Why the stock has skidded downward over the last five days is still a mystery to be discovered.
Find out what could be the best investor’s move when it comes to ELTP by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Approved To Sell Franchises throughout 50% of the Country
In the food-and-beverage sector, Baristas Coffee Co. Inc. (OTCPINK: BCCI) share volume spiked through the stratosphere Mar. 10, with 39,833,728 shares changing hands, more than 14 times its three-month average volume of 2,890,898 shares.
Kicks Off National Advertising Campaign
The stock volume surge appears to be fueled in part by the kickoff of its initial phase of national advertising specifically intended to highlight the success of the Seattle-based coffee company’s model and the opportunities for franchising.
Baristas also announced that it has successfully filed all of the required documents and is fully compliant to sell franchises in over 50% of the country.
The marketing push entails various forms of media including local and national TV, radio, print, and digital. Some of the confirmed outlets are Forbes, WSJ, USA Today, NY Times, CNBC, All Business, Business News Journal, Entrepreneur, Business Insider and numerous business reference sites. All are committed and paid for and will begin running next week. The media campaign will utilize a portion of the 1.7 million dollar media funding that was received by Baristas late last year of which approximately 1.67 remains.
“The multi-tiered local and National media campaign is expected to continue to leverage the recent exposure that we have received and to inform prospects of the strength of our business model. We are solidifying other media campaigns that will focus on other aspects of our business while continuing to build our brand supporting our overall strategy,” Baristas’ CEO Barry Henthorn said, in a written statement
On Mar. 10, BCCI’s share price closed at 12 cents, down 2 cents from the share price of 14 cents the previous day.
Find out what could be the best investor’s move when it comes to BCCI by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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