The uplisting of a penny stock to a higher exchange is generally call for the share price of that Company to see some significant increases. Such is not the case for the non-judgmental attitude towards people with addictions care providers, GreeneStone Healthcare Corporation (OTC: GRST), who’s share price has fallen -86.89% since mentioning that the Company is in the process of applying to be list on the NYSE-Amex exchange. Since GRST stock is priced low enough now that it can see some significant chances for the more than 60 convertible notes to be swapped out for cash by penny stock addicts, Wednesday should be a decent day for it to attract the capital needed to support its operations.
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GRST Stock Quote
Market Cap: 6.89M
Last: 0.29 ▲ 0.05 (20.83%)
Volume: 32,408
Dollar Volume: $9,025
Open: 0.26
High: 0.29
Low: 0.26
Trades: 11
Authorized: 100,000,000
Issued and Outstanding: 23,767,535
14-Day Rel Strength: 51.33%
14-Day Stochastic: 83.33%
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Focused on treating people with addictions without being judgmental about it, we are the exact opposite when it comes to dissecting the inner workings of a penny stock on the pump. As of September 30, 2012, the period for which Greenstone Healthcare felt was best fitting to highlight in their PR issued yesterday, the Company had $2,216,817 worth of convertible notes on its books which totaled an aggregate of 15,079,267 shares, nearly 2/3 of the already issued and outstanding as of the end of September, 2012.
Sure, the 10,245,967 shares of GRST stock issued in June,2012 for the conversion of $691,670 notes, regardless of its classification as 5,195,967 restricted and 4,550,000 unrestricted, did not help to keep GRST stock price up at the false $2 level it was quoted at prior to the Q3 filing. But, any penny stock addict would think that revenue growth to $3,941,360 for the nine months ended September 30, 2012 compared to $1,017,431 for the same period in 2011 would be worth a nice uptick on GRST stock.
GreeneStone Healthcare made it clear that they plan to expand from a 36 bed operation to 300 beds. Even at 300 beds, without considering the overhead costs of additional medical staff and the monthly expenses, the Company could very well more than quadruple its revenue gross profit numbers in due course. A feat of that nature would put the Company in the black within a couple of years and make it an extremely attractive buyout target.
If it achieves even half of that expansion, GRST could very well be a nice 60-to-90 cent stock on the Amex or TSX to give it the credibility needed for long-term financing of its operations.
About GRST Stock
GreeneStone Healthcare Corporation
Click here to view the SEC filings for GRST.
Click here to view the website for Greenestone Healthcare.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 03/08/13 | 0.2400 | unch | unch | 6,500 |
| 03/07/13 | 0.2400 | +0.0100 | +4.35% | 4,000 |
| 03/05/13 | 0.2300 | +0.0100 | +4.55% | 4,300 |
| 03/04/13 | 0.2200 | +0.0800 | +57.14% | 17,000 |
| 03/01/13 | 0.1400 | -0.0500 | -26.32% | 1,200 |
Bottom Line: GRST stock looks good from far and penny stock traders are liekly to see a decent double-digit gain from it on Wednesday. Noting the huge number shares from convertible notes which have caused GRST stock to plummet over the course of the last 6 months, the PR quoting revenue numbers from more than 5 months ago was pretty weak for a pump. At least they could have thrown out some rough estimates on fiscal 2013 since they have had more than 9 weeks to review the numbers.
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