Inergetics Inc (OTCMKTS:NRTI) reported it has formalized a deal to represent sales and marketing for its Nulief™ CBD brand. The agreement is made to develop and implement potential distribution when the brand moves from “test & learn” to mainstream sales channels. The new deal is a significant step in the process as the company plans for the brand post evaluation in dispensaries.
Inergetics is a nutraceutical firm that wanted to capitalize on the cannabis rush that affected the OTC Markets last year and sent the stock of marijuana-related firms sky-high. To this day, Inergetics stock is traded as a marijuana-stock, so upon considering the charts it should be assumed that the recent spike in activity was a result of some positive news that got investors impressed about NRTI’s marijuana-prospects. It is how it works in the marijuana division.
Lack of news
Oddly enough, there is no positive announcement from Inergetics that boosted the stock price on Friday’s trading session. Sure, there is some hype on the message boards as they are flooding with optimistic predictions. There are no press releases, no new pumps and no activity on the Inergetics social network accounts. The last news release came in last week of May and from there on there has been no update from company.
As per the latest report, Inergetics Inc (OTCMKTS:NRTI) had $28,000 in cash. The total current assets came at $318,000 and total current liabilities were $14 million. The total revenue was $284,000 and net loss was $4.4 million. Also, company has an accumulated deficit of almost $1 billion. Inergetics outstanding common stock surged four times in the past 18 months. So, the problems are many and it is reason why the stock eroded its gains on Monday’s trading session.
In last trading session, the stock price of NRTI declined more than 38% to close the trading session at $0.00080.