Traders focused on hot penny stocks to buy have been banking big profits this summer by cruising the OTC Markets in search for that next subpenny runner. Carbon Sciences Inc. (OTCBB: CABN), a company researching and developing a cost-efficient process to manufacture commercial size sheets of graphene through a sponsored research agreement with the University of California, Santa Barbara, could meet the criteria after shares of CABN stock hit the “unusual volume” scanners early on in Tuesday’s trading session. With filings out and little to no dirty market makers involved at present, a move back above .01 could be just a few sessions away.
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Carbon Sciences is a very unique company in the sense that they are hoping to one day be able to mass-produce graphene, a naturally occurring sheet of pure carbon, only one atom thick, that scientists in 2010 were awarded a Nobel Prize for after successfully isolating graphene from graphite. Used in a vast array of products used in everyday life, the flexible, transparent, impermeable to moisture, strong, and highly conductive graphene could one day enable new applications such as bendable touchscreen displays, rapid charge batteries, super-capacitors, low cost solar cells, extreme high-speed semiconductors, biosensors, as well as water purification.
Carbon Sciences is run by two dedicated officers: Byron Elton, Chairman of the Board, and William Beifus, Jr., Director, President, CEO, and Acting CFO. Elton, involved with the Company since March 16, 2009, is a marketing guy having served as Executive VP of 451 Marketing, a fully integrated marketing and communications agency with offices in Boston, New York and Los Angeles and also eight years as an executive at AOL Media Networks. Beifuss, appointed to serve his positions effective May 10, 2013, is a business executive whose background includes CEO of Cumorah Capital, Inc., a private investment company, and Chairman of the Board of Warp 9, Inc (WNYN) from December 2008 to January 2013.
While neither of the two are scientists, the deal with UCSB doing the research project is where the legitimacy of their business model comes into play. In May, they announced a successful demonstration of producing high quality graphene using a low cost chemical vapor deposition process was fuel for CABN shares to spike from 0.005 to 0.0235 – a 370% jump. Later news announcements in June offered significantly less PPS reactions as shares have slowly been declining over the last 3 months.
From a technical POV, CABN shares currently have:
- 50Day/200Day Moving Average of 0.009
- 20Day Exponential Moving Average of 0.007
- RSI(14) of 27.27%
In other words, a correction is due for CABN stock and a steady climb back to above 0.01 appears likely in the coming month. During the course of the last 12 months, CABN shares have run on several occasions, the most notable being 12 months ago when a run from 0.0009 to 0.019, from August to September, provided gains of up to 2011%.
It’s worth noting that there are 1,000,000,000 shares of CABN stock authorized, 306,249,680 of which were issued and outstanding as of August 12. During the six months ended June 30, 2015, 65,063,501 shares were issued in conversion of $23,800 of convertible promissory notes and accrued interest payable of $5,478 (roughly $0.00037 per share). From what we’ve gathered, the debt on the books looks much more legit than the toxic lenders that usually cripple OTC stocks which makes watching for further interest in CABN, especially under .006, a value opportunity.
Find out more about CABN shares here: $CABN
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