Yesterday the share price of GROGENESIS INC (OTCMKTS:GROG) recorded another disastrous trading session. The stock price wiped over 20% of its price and closed at $0.495. This is one of the lowest closing prices for the company since it commenced active trading in the last week of February. So far just in the last four trading sessions the stock has declined close to 60% dropping from a high of $1.06. Yesterday’s decline came at a share volume of 403,495 almost double the average volume of 225,503.

The concerns

GroGenesis is surrounded by several red flags that warrant the use of caution. It has been the target of a paid pump since the first week of March and the landing page developed by the group Untapped Wealth is still active. There is a disclaimer at the end of page that states the promotion has a weekly budget of $150,000. Investors even took a note of a hard mailer being put into circulation while recently a radio promo has been recorded.

The financials

The picture around GROGENESIS INC (OTCMKTS:GROG) gets even grimmer when the latest financial report submitted by the company is analyzed. It covers the three-months ending November 30, 2014, when it recorded $147 in cash. The quarter was a zero revenue generating quarter with $69,000 in net loss. The total liabilities came at $271,000 and the total current assets were $20,806. The company was supposed to submit the next financial report by Mid-April; however, the company filed a notification of late release giving them extension of another five days.

The takeaway

As of now, the direction of GroGenesis’s stock price largely depends on the anticipated financial report due in next five days. If the numbers are good, the stock may halt its sharp decline. Investors should keep in mind that a group of unnamed investors bought 40 million shares for just $32,000 after the 25-for-1 forward split.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.