DigiPath (DIGP) Breaks Past $1 And Keeps On Going

DIGPThe penny stock of DigiPath Inc. (DIGP) has been on an absolute tear for the last two weeks although the volume level traded would not indicate such. Shares of DIGP stock have been trading better than unusual volume during the period, but it wasn’t until they notified the general public that the laboratory testing business was expanding into the cannabis education curriculum development, and more after raising roughly $8.2 million to explore new lines of cannabis businesses. Having already proven they’re success at bringing in money from their current business model, the break past $1 on the relatively low floater was a given, but can it break past $2 without too much resistance?

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Market Cap: 48.17M
Last: 0.94 ▲ +0.43 (+84.31%)
Volume: 108,837
Dollar Volume: $78,461
Open: 0.55
High: 1.05
Low: 0.52
Trades: 71
14-Day RSI: 71.04%
1st Resistance Point: 1.05
1st Support Level: 0.65
52Wk High: 1.75
52Wk Low: 0.16

With all the marijuana stocks that are out there, Digipath may be one of the healthiest ones on the OTC based on the fact that as of June 30, 2014, the Company had $5,901,786 cash on hand, revenues of $217,248 and $322,792 for the 3 and 9 months ended, and just $163,579 of total liabilities, none of which was convertible debt. For what began on October 5, 2010, the proof of them being able to convert their digital pathology, botanical and nutri-pharmaceutical laboratories, and education of such into actual revenues is a clear indicator that the move into cannabis is not one done simply to capture the hype that has hit the sector since last year December.

Paving their way to enter the pot industry began back in May when Digipath completed a PPM offering to certain accredited investors whereby the Company raised some $2.21 million by issuing 44,200,000 shares of DIGP stock. The intention for using the funds raised was to develop the new lines of business they are looking to stem into which are along the existing digital pathology solutions business lines, but also may include the licensing of brand name nutra-pharmaceutical products.

As part of their plan, Digipath, on July 15th, announced that they officially launched their National Marijuana News news site, www.thenationalmarijuananews.com, and talk radio show which began airing on Live365 and Blog Talk Radio in June. With an team behind the 2 media venues that has such a professional approach, even with Jackie “The Joke Man” Martling as a host, to dealing with the most controversial plant in the world right now, the fact that they picked up 15,000 Facebook likes and tallied hundreds of listening hours in the first two weeks of broadcasting shows just how hot DIGP stock could soon get.

Last week is when DIGP stock began to show some real signs of life, although volume was extremely small, after the Company announced that it had raised some $8.2 million in order to fund its digital pathology solutions, cannabis education curriculum development, and to explore new lines of cannabis businesses. While volume was still relatively slow, the decision to jump on DIGP stock when it was still well under 0.50 was as foreseeable as those who took advantage of the early volume that CYNK showed when it began to show signs of life at under 0.50.

Despite volume being very thin right now on DIGP with less than $80,000 in volume traded, the 4 days of momentum the ticker is currently on is making it one of the hottest non-subpenny stocks on the OTC as the month of July comes to an end. Assuming DIGP can keep its head above $1 for the duration of today, a push upwards as the week continues looks like it could be a surefire way to book that last triple-digit gain need for the month before heading into August.

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About DIGP Stock

DigiPath, Inc. and its subsidiaries, is a digital laboratory provider within the human and animal testing markets which recently expanded into the laboratory education & training and cannabis testing markets.

Click here to view the SEC filings for DIGP.
Click here to view the website for DigiPath.

Authorized: 900,000,000
Issued and Outstanding: 51,246,400

Last 3 Trading Sessions:

Date Open High Low Last Change % Chg Volume
07/25/14 0.4600 0.5100 0.3800 0.5100 +0.0200 +4.08% 37,900
07/24/14 0.5000 0.5000 0.4600 0.4900 +0.1400 +40.00% 11,300
07/23/14 0.5000 0.5000 0.3500 0.3500 -0.1500 -30.00% 8,600

 

Bottom Line:

For those that caught hold of CYNK when we did and ran with it for some wicked, spectacular profits in late June, the characteristics of DIGP appear to be much less risky based on the revenue history, health of their balance sheet, true existence of a real business, and a much smaller share structure. Although, like CYNK stock, DIGP stock may bot make it into the top 20 traded penny stocks on the OTC anytime soon, seeing it break past $1 early this morning shows some clear signs that a run past $2, maybe even $3, could happen faster than one can roll a joint up.

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