{"id":3177,"date":"2013-11-14T14:12:53","date_gmt":"2013-11-14T14:12:53","guid":{"rendered":"\/?p=3177"},"modified":"2013-11-14T14:12:57","modified_gmt":"2013-11-14T14:12:57","slug":"fuse-science-inc-otcmktsdrop-steamrolled-on-heavy-volume","status":"publish","type":"post","link":"\/articles\/fuse-science-inc-otcmktsdrop-steamrolled-on-heavy-volume\/","title":{"rendered":"Fuse Science, Inc. (OTCMKTS:DROP) Steamrolled on Heavy Volume"},"content":{"rendered":"

\"1DROP_chart.png\"After slipping over 17% on Tuesday, investors probably hoped for calmer times or even a rebound from Fuse Science, Inc. (OTCMKTS:DROP<\/a>). Sadly, yesterday’s session saw the return of furious share volumes and the ticker lost another 29%, stopping a notch above $0.02 per share. <\/p>\n

The share price has been steadily dropping over the last four months, with recovery sessions and short, level streaks before the next slip. The mid-October red streak shaved 2 cents off the price. Yesterday’s session marked the company’s biggest percentile tumble in quite a while.<\/p>\n

The latest bit of PR from DROP<\/a> came through last Friday and informed that MusclePharm Corp. (OTCMKTS:MSLP<\/a>) and a number of other investors represented as a group invested in DROP<\/a>. The details surrounding the investment were published in a filing. The investment is executed through a convertible note worth $700 thousand, with attached warrants for the purchase of up to 23.3 million common shares.<\/p>\n

\"DROP_logo.jpeg\"The conversion price and the warrant exercise price are set at $0.06 per share, well above the current price level. However, there is an extra provision in the filing that should DROP<\/a> get future financing for no less than $4 million, the conversion can happen into securities sold in this financing, and at a 25% discount from their offering price. The money from the $700 thousand round of financing is going to be used for the ‘execution of the Fuse business model’.<\/p>\n

Hopefully, it will serve an improved version of it because as of its last report, despite an increase in revenues, DROP<\/a>‘s quarterly net loss sat at over $3.6 million. It’s understandable that DROP<\/a> needs money to develop its business but the shaky stock price and the gaping maw of increasing net loss in the millions may scare some.<\/p>\n

As usual, investors are advised to do their own research before investing in this or any other company.<\/p>\n","protected":false},"excerpt":{"rendered":"

After slipping over 17% on Tuesday, investors probably hoped for calmer times or even a rebound from Fuse Science, Inc. (OTCMKTS:DROP). Sadly, yesterday’s session saw the return of furious share volumes and the ticker...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[162,665],"class_list":["post-3177","post","type-post","status-publish","format-standard","hentry","category-news","tag-drop","tag-mslp"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3177"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3177\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}