Do you suffer from a house dust mite allergy? Are you subject to anaphyaxis (allergic shock) requiring an epinephrine auto-injector be within close proximity at all times? Didn’t think so but the penny stock of Allerayde SAB, Inc. (ASAB) is looking to come off strong in the coming sessions perhaps as soon as some technical issues with a certain SMS services gets corrected. And, since no news has yet to come from the former recycler of ferrous and nonferrous metals, the “green light” awaits for ASAB stock to advance stuff the stockings of those who actually give a damn that Carrillo, Huettel & Zouvas, LLP was the attorney on record back when they were still in business.
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ASAB Stock Quote
Market Cap: 35.16M
Last: 0.395 ▼ -0.0465 (-10.53%)
Dollar Volume: $28,959
Issued and Outstanding: 89,005,250
Michael Rhodes, Chairman and CEO: 75,872,411 (85.24%)
14-Day Rel Strength: 64.58%
1st Resistance Point: 0.4291
1st Support Level: 0.3267
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A Nottinghamshire, U.K. based Florida Corporation should not be something that many consider to be weird when it comes to trading penny stocks. If it isn’t a warning sign which requires an immediate adrenaline shot to the forehead to keep your eyes from missing a significant event, perhaps an 8-K filing from back in 2011 will.
On June 3, 2011, Resource Exchange of America Corp. (RXAC), the previous name and ticker for Allerayde SAB, Inc. (ASAB), CC’d a deal they did with the notorious toxic financiers, Asher Enterprises, Inc., to their attorney of the time, Carrillo, Huettel & Zouvas, LLP. The 8% convertible note for $27,500.
That was just one of several convertible notes that the former entity entered into that have been converted into multiple blocks of a few million shares, mostly all to Asher Enterprises. Now, back when RXAC was on the pink sheets, until April 30, 2013 when they switched the symbol over to ASAB and moved the ticker to the OTCBB, the PPS only got as high as 0.02 on its best day and never traded any significant volume.
Considering ASAB stock had no trading history at all until 4 weeks ago, who do you stink is going to get those ASAB shares Asher Enterprises has so patiently been hanging on to?
Whether it was recycling ferrous and nonferrous metals for resale or this new venture into this high growth, branded market, valued at over $750 million globally, with their AAA Pen, a generic version with equivalent or better than functionality, to gain 40% market share within 5 years, the CEO is still there. They had been flip-flopping CEO’s last year as well when the current, Michael J. Rhodes, resigned on Dec 12, 2012, only to return after Mark Dresner held down the shell corp for a 3 month stint.
So the key selling point to invest all of your money into ASAB stock will be based on Rhodes’ previous history in the field of allergy medicine. According to his resume, Rhodes was “instrumental in creating the market for adrenaline auto-injectors in the UK and Ireland in the early 1990’s and went on to initiate the marketing of adrenaline pens via Anapen in the majority of Europe with great success in France, Holland, Germany, Scandinavia, Portugal and Greece.”
Connections, connections, connections. It all leads down to one simple prediction: Up day 1 of the pump, burny, burny, burny day 2, 3, and 4.
About ASAB Stock
Allerayde SAB, Inc. is a development stage company engaged in the business of developing and manufacturing allergy management products in the United Kingdom and other countries such as the U.S. and Canada.
Last 5 Trading Sessions:
At first glance, ASAB stock doesn’t look all that bad since Rhodes had more than 85% of the issued and outstanding as of the end of 2012. However, having researched enough penny stocks to find that rarely does Asher Enterprises come up within money borrowings in the 2 years prior to a pump that the share price past goes up enough to warrant any risk. More so, until actual confirmations of ASAB alerts having been issued, front loading this at these prices is an easy way to walk into a beehive unprotected.
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