In a move which would made Sir Issac Newton rollover in his grave, the penny stock of Rich Pharmaceuticals Inc. (RCHA), a company with intellectual property relating to acute myeloid leukemia, defied all the laws of not just gravity, but smart investing as well. The subject of a spammed promotional campaign which rocked Twitter for a day in April, 2014, shares of RCHA stock not only opened up at the prior day’s close (no gap up), but also topped the most traded list for the session after the words “Obtaining FDA’s Final Approval” were spotted in the morning PR. Bouncing from within 0.0001 of their 52WK low to nearly 0.02 for the day, biotech tickers are all on watch as the first trading week of February slowly comes to a close.
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RCHA Stock Quote
|Close||0.0148||Change (% Chg)||+0.0139 (+1,544.44%)|
|14-Day Rel Strength||80.66%||Market Cap||$9.81M|
|52Wk High||0.019||52Wk Low||0.0008|
Rich Pharmaceuticals has been ever so quiet on the PR front about their intellectual property for the treatment of acute myeloid leukemia that was said to have been entering into phase II human studies up until yesterday morning. The Company balance sheet, as of September 30, 2014 still looks like one of a company in the business of developing, manufacturing, and selling small boilers aimed at farmers primarily in Southeast Asia – their former business plan when they were still Nepia Inc.
Soon after their name change in July, 2013, the Company entered into an Asset Assignment Agreement with Imagic, LLC and its principals to acquire certain assets including a US Patent entitled “Phorbol esters as anti-neoplastic and white blood cell elevating agents” and all related intellectual property associated with the patent, Rich Pharmaceuticals increased the authorized common shares 90,000,000 to 37,503,000,000 and proceeded ahead with a 416.7 for 1 forward stock split. The deal was a dead one if the Company was unable to raise $400,000 according to the terms of the Assignment Agreement, reverting the patent back to Imagic, LLC and its principals, but Ben Chang, President, CEO, CFO, Treasurer of the Company solved that with a $20,000 payment to terminate, on January 17, 2014, the right of reversion.
With no funds to move forward, a spammed promotional campaign hit in mid-April with no recipient, regardless of their high ranking career, able to avoid receiving emails from iStocksInformer ([email protected]). When that failed to be productive, Rich Pharmaceuticals turned to Asher Enterprises’ closely connected counterpart, KBM Worldwide, Inc., for funding which the closely connected toxic financier was happy to oblige by.
Six of one, half a dozen of the other, RCHA stock was the play of the day and made a small fortune for KBM Worldwide, Ben Chang and all the players that got in prior to the shares hitting 0.01. While the focus for most was on Macallan Partners, LLC funding up to $4,000,000 for Rich Pharmaceuticals to get their RP-323 study drug created, ask the guys who are bagholding Metatron Inc. (MRNJ) or Gold and GemStone Mining Inc. (GGSM) how that all worked out for them.
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About RCHA Stock
Rich Pharmaceuticals Inc. is a non-revenue generating, development stage biopharmaceutical company that claims to be developing a treatment for Acute Myelocytic Leukemia (AML)/white blood cell elevation, Hodgkin’s Lymphoma and other blood related diseases.
Issued and Outstanding: 731,806,259
Last 5 Trading Sessions:
There’s no way to deny the strength RCHA shares displayed throughout the entire trading session on Wednesday and hopes are high for many that the momentum can continue for atleast a few minutes heading into today. How KBM Worldwide, Ben Chang or Macallan Partners handled their dumping should be a lesson for all of those holding paper on penny stocks that are looking to liquidate: DUMPING DOESN’T WORK YOU MORONS!
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