Everything seems to be going downhill for Pristine Solutions (OTC: PRTN) after it was picked as one of the AwesomePennyStocks (APS) that had a bright future. Every investor with a stake in the company would have been holding his or her breath while waiting for Pristine Solutions to hit several dollars per share just like other famous APS picks have in the past.
Companies such as Sunpeak Ventures (OTC: SNPK), which is into distribution of specialty drugs and over the counter multivitamins, as well as Great Wall Builders (OTC: GWBU) which is the company holding manufacturing and distribution rights for Start Fuel Efficiency and Emission Device (FEED) exclusively, have been APS picks in the past. Though these two companies are doing fairly well, just like Pristine Solutions, they are yet to hit a figure of several dollars per share.
About Pristine Solutions
Pristine Solutions, and its wholly owned subsidiary Eaton Scientific, are into research and development pertaining to Tropine 3. This drug will be used in a homatropine medium to provide non-hormonal treatment options to women who are suffering hot flashes in premenopause, perimenopause, and postmenopause phases. The drug is still patent pending and has not yet received approval from the Food and Drug Administration (FDA), though it is not for the lack of trying.
The company has just announced that through Eaton Scientific, it has signed an agreement with Cislo & Thomas LLP acting as its intellectual property law firm. The agreement has been signed to help its research and development plans for Tropine 3, for its patent application and also its intellectual property strategy. The agreement involves letting go of about 4.5 million shares.
Owing to limited financial information provided under the OTC Disclosure and News Service, or because of the incomplete SEC filing, Pristine Solutions has been moved to the OTC PINK market. This penny stock company started the trading session at $0.49 per share. By the end of the trading session, its share price fell by nearly 8.2%, or $0.04, to reach $0.45 per share. This penny stock has been one of the most actively traded stocks in the OTC market. Over the last three months, the average volume that was traded is a whopping 4.9 million shares.
APS has been known to predict penny stocks that look mundane but then increase in share price by about 10 fold. This is exactly what high volume penny stock investors are looking for, which makes APS legendary and highly popular. The fact is that it has been a while since APS has made a right prediction and its credibility is falling. Instead of rising, Pristine Solution’s share prices have fallen even lower, which may be a sign of things to come. Another factor to keep in mind is that Pristine Solutions has no revenues to show as of yet. The only thing going for it is the APS prediction and that may not be enough for this penny stock company.
Sometimes people want to see actual results and not Monopoly money. Pristine is not the Fed; they cannot just print money and hope things become brighter as a result.