“Ok guys, we have $214 in cash, liabilities of over $1.759 million, no revenues and a revamped website which looks as 2014 as we can make it – what should we do?” That question very well could have been the topic of conversation inside the offices of In Ovations Holdings, Inc. (INOH) prior to their announcement today that they concluded negotiations for licensing sophisticated sputum cytology technology for early and pre stage detection of lung cancer. The news was good enough to force INOH stock into the top 10 traded penny stocks for Tuesday as if it spent all night Monday drinking as many DNA Brands, Inc. (DNAX) energy drinks it could get it’s hands on to steal away all of their Monday mojo as well as the other 8 most popular tickers.
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INOH Stock Quote
Market Cap: 7.15M
Last: 0.0084 ▲ +0.0061 (+265.22%)
Dollar Volume: $2,380,107
14-Day RSI: 72.74%
1st Resistance Point: 0.0135
1st Support Level: 0.003
52Wk High: 0.10
52Wk Low: 0.0015
In Ovations Holdings dropped some lighter news than what DNA Brands did Monday, yet got the same result – a massive surge of volume and a share price increase that made every investor that missed the early entry points salivate while smashing their coffee mugs against the wall in a rage of jealous anger. the Company’s patented sputum cytology technology is an instrument designed by their V.P. of Technology, Mel Ehrlich, Ph.D., provides automated detection and identification of unstained exfoliated cells and live bacteria pathogens in real time which also has great commercial potential especially in the real time monitoring of the nation’s water supplies for pathogen detection where time is of the essence to protect the population.
It all sounds good enough that more than $2,000,000 worth of trades were executed on INOH stock, more than the total liabilities In Ovations had on their books as of March 31, 2014 and surely a massive day for BOCO Investments, LLC out of Fort Collins, Colorado. The securities purchasing firm run by Joseph C. Zimlich had a significant portion of the more recently issued convertible notes payable from the Company as well as some pieces of Omni Bio Pharmaceutical, Inc. (OMBP) and WestMountain Gold Inc. (WMTN).
Considering the timing of the volume surge and the historic track record of how INOH stock gets reversed (1-for-500 on December 28, 2006; 1-for-500 on November 18, 2010; and 1-for-1,000 on October 15, 2013), a return to 0.0025 before the end of tomorrow’s trading is virtually a given. DNAX stock proved that news will only do so much in June when it saw it’s mojo get torn to shreds at the open, dropping as low as 0.0074, -50.67%, within an hour of today’s open.
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About INOH Stock
In Ovations Holdings, Inc. is a development stage company pursuing several potential business opportunities such as the patented GradiLux Total Lighting System Solution which can reduce electricity consumption and carbon emissions in municipal lighting systems worldwide as well as a Caribbean-based marine-related eco-tourism business and ocean search and recovery operations using state-of-the-art technology.
Issued and Outstanding: 851,210,674
Last 5 Trading Sessions:
INOH and Terra Tech Corp. (TRTC) were the only 2 penny stocks in the top 10 traded to end the trading session green today. In a sea of red and with the lesson learned from those who chased after DNAX stock on Monday, expecting to see INOH stock open lower and continue lower tomorrow is an expectation many will be looking forward to, especially those who know that during the summer, unpromoted penny stocks that jump as high as this did are to be treated as day trades until further notification indicates otherwise.