The penny stock of Eternity Healthcare, Inc. (ETAH) saw an immediate surge hit its ticker after issuing PR about how their competitor received FDA clearance to use a Needle-Free Injection device to administer the influenza vaccine to the public. Shares of ETAH stock ignited for better than 200% gains before the realization kicked in that the news was nothing more than a “look at me” announcement about the medical device and diagnostic company. Coming fresh off their 10Q filing for the 3 months ended July 31, 2014, the self promotion appears to be a good start for the estimated $1,500,000 that needs to be raised in order to officially compete with PharmaJet® Inc.
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ETAH Stock Quote
Market Cap: 8.62M
Last: 0.165 ▲ +0.065 (+65.00%)
Volume: 480,862
Dollar Volume: $84,679
Open: 0.10
High: 0.301
Low: 0.10
Trades: 107
14-Day RSI: 59.85%
1st Resistance Point: 0.254
1st Support Level: 0.053
52Wk High: 1.17
52Wk Low: 0.075
Eternity Healthcare put themselves on trader’s radars today with their re-release of the Pharmajet PR released on August 19, 2014. The announcement stated how “PharmaJet® Inc., the developer of a needle-free injection technology to administer medications and vaccines to patients, and bioCSL Inc., the maker of AFLURIA(R) (Influenza Vaccine) today announced the U.S. Food and Drug Administration (FDA) has approved the PharmaJet Stratis(R) 0.5mL Needle-Free Jet Injector for delivery of AFLURIA in individuals aged 18 to 64 years. This is the first needle-free delivery system approved by the FDA for the administration of an inactivated influenza vaccine.”
The move was a well orchestrated one to attract attention to Eternity Healthcare as we quickly approach the flu season in the U.S. If anything, the FDA approval for the Company’s competitor should help boost revenues in the coming months which would be a big relief after posting $17,359 in product sales for the 3 months ended July 31, 2014 versus $19,091 for the same period the previous year. With a better than 65% gross profit on product sales, the boost in revenues will be needed in order to repay the encumbrance of non-interest bearing, unsecured and has no fixed terms of repayment debt, $513,576 in cash loans from related parties of the Company, that was taken on during the quarter.
Eternity Healthcare is hoping to soon break into the U.S. market with their needle-free delivery system when they can fund the FDA approval process. At present, their cash flows from the regulatory approval for Europe, Canada and many other countries. What could be a future boost is their recent efforts to initiate the development of a Hand-held Laser hair removal device using technologies available at some manufacturing partners in Asia. Although Asian natives frown upon the lack of certain body hairs, perhaps the northern Asian countries which are more westernized will be a targetable market.
As thin as ETAH stock had traded prior to today, the surge in share price and obvious volume increase should have alarms ringing across the OTC. Assuming trading activity can continue throughout the week for ETAH stock, swings worth decent double-digits should continue to be prevalent.
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About ETAH Stock
Eternity Healthcare, Inc. is a development stage company focused on offering a range of medical devices and diagnostics.
Click here to view the SEC filings for ETAH.
Click here to view the website for Eternity Healthcare.
Authorized: 300,000,000
Issued and Outstanding: 66,299,868
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 09/16/14 | 0.1000 | 0.3010 | 0.1000 | 0.1650 | +0.0650 | +65.00% | 422,254 |
| 09/15/14 | 0.1000 | 0.1000 | 0.1000 | 0.1000 | unch | unch | 6,700 |
| 09/12/14 | 0.1000 | 0.1000 | 0.1000 | 0.1000 | unch | unch | 2,500 |
| 09/11/14 | 0.1000 | 0.1000 | 0.1000 | 0.1000 | unch | unch | 300 |
| 09/10/14 | 0.1000 | 0.1000 | 0.1000 | 0.1000 | unch | unch | 500 |
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