Gamma Pharmaceuticals (Pinksheets:GMPM) Another SNPK?
Penny stock Gamma Pharmaceuticals (Pinksheets:GMPM) has been burning up the charts since the open of yesterday’s trading session. The stock is up 102% since the opening bell on the 11th and has seen some decent trading volume. Is this another SNPK? In a word… NOPE!
Despite the fact that vitamin stocks seem to send micro cap investors into a tizzy, we just don’t see much staying power with this one. For example we would like to present you with some financial data but the Company doesn’t report to Edgar and does not issue filing reports on OTC Markets.
When you pull up the quote: GMPM the big stop sign pick means nada on filings. So really we have no clue on their revenue performance or press release claims. Kind of reminds us of another hot vitamin penny stock that everyone is talking about. At any rate, lets take a look at the recent news that has been published.
On March 14th the Company announced that its Houston-based distribution partner are cooperating on deployment of a dedicated sales representative, territory expansion, and new outlet opening. The Distributor currently covers over 2,000 outlets in the Southwest US and is expanding their distribution footprint.
Gamma did not however “name” this partner… so no idea who that could be.
On April 11 Gamma announced it has developed a proprietary, fast acting Male Enhancement oral GEL and is in the late stages of product testing. Gamma is leveraging the Company’s proprietary Gel Delivery Technology to solve a common complaint regarding the array of current products in the Erectile Dysfunction and Male Performance market: slow response time.
Not even going to comment on this.
Also on the 11th GMPM announced the signing of a Distribution Agreement with Purchase Order for the Company’s 17-gram Gamma Energy GEL. The initial order is for approximately $70,000 retail value. Gamma will support sales with point of purchase materials and social media. Gamma is also in discussions with groups to support street level marketing and product sampling.
Once again, no names means we have no idea what the value of this “agreement” is.
GMPM Chart and Trading Highlights
30 Day Percent Change: 157.4%
30 Day Moving Average: .0686
30 Day Average Volume: 212,471
If you are looking at this Company we would advise it to be under the assumption of making a “quick” flip, until the Company is more forthcoming with financial audits and naming their distribution partners we would be quite wary of this one.