Getting your pet stoned is something pot heads have been doing for decades, but now that the penny stock of Peak Pharmaceuticals, Inc. (CTCO) has exploited their exclusive license to do it, traders are finally in the green. Less than two weeks into their official name switch from Cannabis Therapy Corp., shares of CTCO stock had their biggest gaining session on the highest volume traded since moving from oil and gas exploration and into marijuana. Having announced orders for Canna-Pet™, the first legal cannabinoid product designed specifically for cats and dogs, the high without the high is nice to finally see.
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CTCO Stock Quote
|Close||0.20||Change (% Chg)||+0.0771 (+62.73%)|
|14-Day Rel Strength||0.00%||Market Cap||$15.67M|
|52Wk High||2.00||52Wk Low||0.1001|
Peak Pharmaceuticals is the result of a Christmas Eve 2014 merger agreement in order to make their name more consistent with their business operations (since Cannabis Therapy didn’t nail it) and plans relating to development, manufacturing and marketing of hemp-based nutraceutical and supplement products for the human and animal health markets. Besides plans to become the next big hemp-based providers of products that will come from their growth and manufacturing facilities that are still to come, the Company is exploiting their perpetual, exclusive, world-wide license with Canna-Pet, LLC.
For pets, the cannabis products are made from hemp and low tetrahydrocannabinol cannabis plants, and have an apparent market after Peak announced yesterday that they processed and shipped more than 3,000 orders. The deal will allow for the Company to shell out only 15% of the first $1,000,000 of gross proceeds received during the quarter and 10% on gross proceeds in excess of $1,000,000 received during the quarter – $150,000 on the first $1,000,000 and $100,000 on the rest.
With products for dogs costing between $13.99 and $44.99, it’s going to take a tremendous amount of doggie lovers buying Canna-Pet products for their pets suffering from seizures, cancers and aggressive tumors, severe chronic pain, and in end-of-life care for that $1,000,000 milestone to be reached in a quarter. Lucky for Peak, there was just $54,427 worth of liabilities on their books as of their year ended September 30, 2014 so the gross profit from any sales won’t be forced to pay back debt.
The insiders that were a part of Cannabis Therapy Corp. own 51.56% of the CTCO stock float – approximately 41.97 million shares. That said, the peak yesterday on CTCO, 0.27, two days after setting a new 52 week low, 0.1001, could easily be the peak of what is to be witnessed over the course of 2015.
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About CTCO Stock
Peak Pharmaceuticals, Inc., fka Cannabis Therapy Corp., fka formerly known as Frac Water Systems, Inc. and fka Surf A Movie Solutions, Inc., is a development stage bio-pharmaceutical and nutraceutical company seeking to develop, manufacture, market and sell safe, high quality, medicinal products extracted from hemp.
Click here to view the SEC filings for CTCO.
Click here to view the website for Peak Pharmaceuticals.
Issued and Outstanding: 78,363,567
Last 5 Trading Sessions:
Cannabis related penny stocks have totally lost their luster and with Peak having one line of income at present, that which stems from Canna-Pet, doesn’t look like it’s going to run like a big dog anytime soon. While the volume from yesterday, CTCO surely deserves some attention along with other OTC stocks like Tapinator, Inc. (TAPM), Manhattan Bancorp (MNHN) and Start Scientific, Inc. (STSC).
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