Sliding under the radar in virtually every way possible, the penny stock of 5Barz International Inc. (OTCQB: BARZ) set a new YTD high on Friday and a sexy bump at the end of the day to close at the HOD: 0.195. Shares of BARZ stock traded between .08-.10 throughout April, May and June, but entered July with enough momentum to start testing the teen range more than a month after unveiling the latest 5BARz® cellular network extender in India. Although no news has come in more than 2 months and its doubtful that the upcoming Q, like previous ones, will have revenues on it, the climb upwards provides hope that August brings a chance to break into the 20’s.
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India, with roughly 900 million mobile subscribers, is a significant target market for 5Barz which is why the company established a subsidiary company, 5BARz India Private Ltd., in Bangalore, India, back in March. In January, the company opened one in Mexico, 5BARz International SA de CV, which joined 5BARz AG from Zurich Switzerland that, in March, gained the license for marketing and distribution for the company’s products in Germany, Austria and Switzerland.
Unfortunately, one thing missing for 5Barz is revenues. The company has a well designed product for improving indoor cell coverage, all that needs to be done is to start getting these subsidiaries selling the thing to break that drought of no revenues being reported each quarter.
Without revenues coming in, financing is the only option and, luckily, the shares issued during Q1 haven’t been too dangerous for those BARZ stock’s performance. Per the 10-Q filed for the three months ended March 31, 2015:
the Company issued 5,022,500 units at a price of $0.05 per unit for aggregate proceeds of $251,125. Each unit is comprised of one share and one share purchase warrant to acquire a second share at a price of $0.30 per share acquired, with a two year term on the attached warrant;
on January 13, 2015 the Company issued 331,986 shares at a price of $0.069 per share;
on February 2, 2015 the Company issued 75,000 shares at a price of $0.10 per share;
on February 2, 2015 the Company issued 180,000 shares at a price of $0.05 per share;
on February 9, 2015 the Company issued 400,000 shares at a price of $0.05 per share;
on February 20, 2015 the Company issued 180,000 shares for services at a price of $0.05 per share;
on March 20, 2015 the Company issued 400,000 shares at a price of $0.048 per share;
on March 31, 2015, issued in settlement of a share issuance –pricing adjustment, the Company issued 146,667 shares and warrants to acquire a further 146,667 shares at a price of $0.30 for a period of two years
It may not appear to be a large number of shares issued during the three month period, but one can be sure that a similar amount will have been issued during the most recent quarter ended June 30, 2015. There was $1,110,629 worth of promissory notes on the books as of March 31, 2015.
With the new YTD high hit, the little bump upwards towards 0.20 right at the end of Friday’s trading session, and the lack of news for a 2+ month period, something is moving BARZ stock upwards for a reason. After nearly doubling during the month of July, that 1.15 million share volume from Friday had a reason to be traded before ending the day green.
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