There is no looking back for Propanc Health Group Corp (OTCMKTS:PPCH) now as the healthcare company has already set a new record of trading in green for almost half of the month. The company’s ascent on the bourses helped it regain 300% in value in a matter of 15 days. Clearly, the investors have placed high bets on the company as they wait to get their hands on the Sunday edition of the New York Times.
Propanc Health Group Corp (OTCMKTS:PPCH) updated last week that it will get featured in the NY Times Sunday Magazine on April 19, 2015. The company will claim a space under the Health Essentials: Cancer Prevention & Treatment. The feature will tell the readers about Propanc’s journey through the development of cancer therapy and the company’s plans to commercialize its technology.
The story will be shared by the company’s Co-founder and CEO, James Nathanielsz himself, who sees this event as an exciting opportunity. Undoubtedly, making it into one of the renowned print magazine is a big victory for any company, but the significance magnifies when a penny stock like Propanc Health Group Corp (OTCMKTS:PPCH) gets such a coverage.
Issuance of convertible notes
Amidst the progress lie certain threats too. The company’s 8-K filing published day before yesterday points out to the company’s aggressive issuance of convertible notes.The company has sold its 8% convertible note carrying the principal amount of $28,000 to KBM Worldwide, Inc in January 2015. This followed another similar sale of 8% convertible note of principal amount $90,000 to Union Capital LLC Financing.
The issuance of the convertibles notes are over and above the company’s existing number of outstanding shares, which indicates at the possibility of further dilution of the stock in the coming days. Additionally, the company’s cash balance of $14,000 coupled with zero revenues and a net loss of $345,000 raises doubts over the company’s ability to see any turnaround sooner. But, it seems that investors are keeping their optimism till Sunday, at least.
The stock of Propanc Health Group Corp (OTCMKTS:PPCH) surged by nearly 18% to $0.0851 and an average of 27.29 million shares traded on the day.