{"id":6358,"date":"2015-07-24T12:13:03","date_gmt":"2015-07-24T12:13:03","guid":{"rendered":"\/?p=6358"},"modified":"2015-07-24T12:39:47","modified_gmt":"2015-07-24T12:39:47","slug":"propanc-health-group-corp-otcktapch-logs-another-red-session","status":"publish","type":"post","link":"\/articles\/propanc-health-group-corp-otcktapch-logs-another-red-session\/","title":{"rendered":"Propanc Health Group Corp (OTCKTA:PCH) Logs Another Red Session"},"content":{"rendered":"\n

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On June 17 the stock of Propanc Health Group Corp (OTCMKITS:PPCH<\/a>) posted its current 52-week high of $0.1338 per share. Since then, however, the performance of the ticker has been nothing short of a total disaster with PPCH<\/a> <\/strong>registering just 7 sessions that didn’t end with losses. After slashing another 13.7% of its value during yesterday’s trading the stock currently sits at $0.042. This means that if you bought in at the highs from last month you may now be staring losses of nearly 70%.<\/p>\n

Despite the massive decline in share price PPCH<\/a> <\/strong>are still commanding an extremely over-inflated market cap of over $14.5 million. All it takes is one glance at the latest financial report filed by Propanc <\/strong>in order to see how ridiculous such valuations truly are. PPCH<\/a> <\/strong>finished the first quarter of 2015 with:<\/p>\n

• $168 thousand cash
• $308 thousand current assets
• $2.1 million current liabilities
• ZERO REVENUES
• $454 thousand net loss<\/p>\n

The red flags run far deeper than the lackluster financials though. The company has been drowning its long-term shareholders in dilution. Back in November, last year, PPCH<\/a> <\/strong>had around 91 million outstanding shares<\/strong>. Just six months later, as of May 15, 2015, that number had ballooned to nearly 335 million outstanding shares.<\/strong> According to the OTCMarkets profile page of the company as of July 14 there were 347 million outstanding shares.<\/p>\n

The majority of the issued shares came into existence through the conversion of debt at a massive discount to the market price. The conversion prices of the shares ranged between $0.0006 and $0.0035.<\/strong> If you want to see the whole picture you can open the quarterly report to pages 17 and 18. <\/p>\n

The risks surrounding the company are enormous. Propanc’s <\/strong>lead drug candidate, RPP, is currently undergoing pilot animal studies, which means that even if the results are encouraging the company will still be facing years of capital-intensive clinical trials. Funding these trials could result in the company taking on even more convertible debt.<\/p>\n","protected":false},"excerpt":{"rendered":"

On June 17 the stock of Propanc Health Group Corp (OTCMKITS:PPCH) posted its current 52-week high of $0.1338 per share. Since then, however, the performance of the ticker has been nothing short of a total...<\/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":[1604],"class_list":["post-6358","post","type-post","status-publish","format-standard","hentry","category-news","tag-ppch"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6358","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=6358"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6358\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}