Like a quick shot of viagra, the penny stock of Oryon Technologies (ORYN) went limp real quick, lasting only 6 trading sessions in early May. Now that the summer has officially come to an end, ORYN stock looks like it’s gotten its second wind as the PPS has risen from the low 50’s to 0.74, roughly 50%, since August 23rd. Call me dizzy, but are sloppy seconds going to be better than the first pump?
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ORYN Stock Chart
Close: 0.73, up 0.015 (2.10%)
Dollar Volume: $94,721
Average Trade Size: 7,257
Oryon closed off the month by filing an 8-K detailing an additional $250,000 received in connection with the Maxum Overseas Fund financing agreement. The $250,000 makes the total amount received $2 million from the issuance of common stock pursuant to the Financing Agreement. How much stock? 27,111,248 shares.
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About ORYN Stock
Oryon Technologies, Inc. is a research and development and applications engineering company that has developed multiple patents relating to electroluminescent lighting, trademarked as Elastolite®.
Elastolite® enables thin, flexible, crushable, water-resistant lighting systems to be incorporated into multiple applications such as safety apparel, sporting goods, consumer goods and membrane switches, among others. Within Oryon’s target textile markets alone, billions of units are shipped each year. The market includes outerwear, industrial safety, municipal safety, military, athletic apparel, men’s, women’s and children’s clothing, shoes and gear.
Bottom Line: ORYN is getting hot again and hopefully the penny stock can sustain a bit longer stamina than it did the first time around. Basing the theory on very few previous shareholders having an average cost above the current level, ORYN should see limited dumping unless Ron Jeremy is part of the Maxum financing deal. If so, don’t drop the soap and cover your face.
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