The penny stock of Easton Pharmaceuticals Inc. (EAPH) started the week off with a bang as if it had just been smacked by an Easton baseball bat. Continuing their bounce off their recent lows from a week ago today, EAPH stock is running hard after the specialty pharmaceutical company announced their medical marijuana agreement with MDRM Group (Canada) Ltd. has finally closed. Now set up to be a part owner of Canada’s federal cannabis growing industry, the subpenny that shot up to almost a dime at the start of the year is looking to warm up again as the summer months begin.
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EAPH Stock Quote
Market Cap: 12.45M
Last: 0.025 ▲ +0.004 (+19.05%)
Dollar Volume: $591,053
14-Day RSI: 50.02%
1st Resistance Point: 0.0269
1st Support Level: 0.0229
52Wk High: 0.0989
52Wk Low: 0.0013
Today’s announcement that Easton Pharmaceuticals is due to take a minority ownership, 49%, in a pending medical marijuana operation in Canada was more than enough juice to keep EAPH stock on the rise following last week’s mini run. The focus has long been for the company to become a leader in developing natural tansdermal products that are clinically researched, safe, effective and proven to improve the health and well being of men and women and this leap into a direct grower might just be their ticket.
At the end of last year, like most other marijuana related penny stocks, EAPH was teetering on becoming a triple-zero subpenny when it bottomed out at 0.0013 just before Christmas. The rally the shares went on heading into this year was equal to many of the others in the sector, except that from 0.0013 to 0.0989, gaining 7,507% over the course of less than 7 weeks was so monumental that a decline was due to happen.
Seeing as how EAPH had $586,628 in cash and equivalents as of March 31, 2014 and their total liabilities, $598,055, were mainly comprised of expenses due to consultants, directors or officers, their ability to purchase a 49% share of the Canadian based MDRM Group (Canada) Ltd., a wholly-owned subsidiary of Modern Mobility Aids, Inc. (MDRM), has proven to be positive over on that board as well. Shares of MDRM stock are currently up 5.71% at 0.1649 on average volume despite being just 0.0321 away from the 52 week high of 0.197.
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About EAPH Stock
Easton Pharmaceuticals Inc. is a development stage, specialty pharmaceutical company involved in various pharmaceutical sectors including medical marijuana, that owns, designs, develops, and markets topically-delivered drugs and therapeutic / cosmetic healthcare products, focused on cancer and other health issues related towards male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions.
Issued and Outstanding: 498,000,370
Last 5 Trading Sessions:
If not for GBLX, EAPH would be the top gainer right now amongst the top 10 penny stocks traded as of midday Monday. Assuming today’s momentum can hold up through the afternoon, EAPH stock could try to test .03 tomorrow and possibly even .035 by week’s end. GBLX, as we stated on Friday, is sure to have a HUGE week as their official promotional campaign kicked off over the weekend.
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