Shares in the penny stock of Advanced Cell Technology Inc. (OTC: ACTC) closed up 2.34% at $0.083 as investors await the April 26th shareholder meeting. ACTC traded less than 1/3 of the 3m average volume on Friday as the penny stock continued its decline from its Ytd high back in January. Regardless, ACTC deserves to be on the penny stocks lists due to the up coming shareholders meeting.
A shareholders meeting is scheduled for April 26th to discuss a reverse split in the shares of the company which has a whopping 2.03 billion outstanding shares and rumor has been spreading of a possible application to list on the Nasdaq exchange. ACTC announced Friday that it will webcast its Annual Shareholders’ Meeting, which is open to shareholders of record as of March 1, 2012, at 9 a.m. PDT. Results of proxy voting will be announced after the Company completes the formal portion of the meeting.
Looking for Cheap Stocks? Subscribe and get our next penny stock picks FREE.
ACTC Stock Snap Shot:
Market Cap: 168.41M
(Jun 8, 2011): 0.22
(Apr 13, 2012): 0.08
Avg Vol (3 month): 15,450,400
Avg Vol (10 day): 4,560,610
Shares Outstanding: 2.03B
% Held by Insiders: 8.35%
Ytd % Change: 1.22%
Ytd Moving Avg: 0.1098
Ytd Avg Vol: 16,122,285
Advanced Cell Technology Inc. is a biotechnology company focused on developing and commercializing human embryonic and adult stem cell technology in the emerging field of regenerative medicine. Regenerative medicine is a new and emerging field of study involving development of medical therapies based on advances in stem cell and the creation of differentiated cells and tissues in culture for use in transplantations.
ACTC has developed and maintained a broad intellectual property (IP) portfolio, with ownership or exclusive licensing of over 35 issued patents and over 170 patent applications in the field of regenerative medicine and related areas.
To view the SEC filings of ACTC, click here.
Bottom Line: ACTC is surely one of the penny stocks to watch as they head into the end of April. Investors would love to see ACTC list onto the Nasdaq exchange.
However their exchange listing turns out, ACTC has to work out their cash flow in a matter other than issuing stock every time they need funds. They issued another prospectus for 15,483,941 Shares of Common Stock last month (see here) in order to raise fund which is going to continue to be an issue until they can complete their clinical studies.Share