Things were almost looking bright for Pharmacyte Biotech Inc (OTCMKTS:PMCB) but Monday’s trading session put a stop at the upward trend. The company’s stock price declined 11% and eroded the progress recorded over the previous few trading sessions. It stopped at $0.137 on Monday’s trading session, after shifting 3.7 million of shares. Last trading session was no different. The stock price declined 2.55%to close the trading session at $0.134.
Pharmacyte Biotech is still being promoted by several stock promotional outfits, even though a number if shareholders seem to show this is not the reason for downfall. As a matter of fact, the company has remained a target of more than 90 pump emails since the start of the year. It is a huge number. The majority of the pumps were compensated with payment in between $1,500 and $25,000. The mentioned count are just the emails circulated for the firm under its new name and symbol, not taking into account the hundreds of other email pumps circulated back when Pharmacyte was trading with name of Nuvilex under the ticker NVLX .
It appears even the paid research reports received a compensation of $4,000 each, flowing from Goldman Small Cap Research firm that are circulating Pharmacyte’s Press Release feed on newswire sites. Despite all the promotional pumps, the stock price has failed to sustain at higher levels. Traders should know that it was Goldman Small Cap Research firm that released reports on firms such as Pacific Oil Co. (OTCMKTS:POIL) in the past. Its stock price declined from $1.00 to $0.05 in just a single trading session, on 266 shares traded. It opted for a 1-for-200 reverse split in 2015. As per the last report, Pharmacyte had cash of $958,000. The total liabilities stood at $378,000 and revenue came at zero. The net loss was $1.45 million.