Shares in Puration Inc (OTCMKTS:PURA) are higher on the year, but were significantly higher early in the quarter. Shares overall have been very volatile since August, 2016 and trading this micro cap is not for the weak of heart.
It had a nice rally on Thursday up 25% at one point, but has been much higher on the year reaching peaks much higher for the year. Shares are up 250% at today’s sub-penny .036 cent level, but have approached the .08 level in 2017. When you review the price action (see chart below) you can see how far prices have moved in 2017 alone.
Puration Inc (OTCMKTS:PURA) had news and said recently that NCM Biotech has licensed to PURA, the right to utilize NCM Biotech’s patented cannabis extraction process to produce cannabis extracts for infusion into recreational, fitness wellness, alternative medicine and beauty products.
“I have received doctor feedback from more than one of our research initiatives, that extracts coming from NCM Biotech’s patented process are superior in purity and quality to any other available cannabis extracts,” said Frederick Ferri, CEO and Founder of NCM Biotech. “Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development, have a greater efficacy potential than GW Pharmaceutical products and candidate products. We are very enthusiastic about working with Puration, to rapidly ramp-up non-pharmaceutical extract sales offering the highest quality extracts available in the growing cannabis market, and in turn using those sales to fund our ongoing pharmaceutical product development and FDA approval process.”
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$PURA 10-Day Chart Below:
The Cannabis sector is on fire, and any products introduced into the retail space automatically attach and attractive industry multiple. PURA recently launched its first cannabis infused consumer product. PURA introduced EVERx CBD Infused Bottled Water at the recent Arnold Schwarzenegger Annual Sports Festival, in Columbus Ohio. PURA plans to introduce three new EVERx CBD Infused sports nutritional supplement products during upcoming quarters.
“The license agreement… is a substantial and strategic update to the joint venture agreement under which PURA and NCM have already been working,” said Brian Shibley, CEO of Puration. “The license agreement is a more reliable and financeable asset than the joint venture agreement. With the license agreement, we anticipate securing conventional financing to build a commercial extraction lab that can support the magnitude of sales interest we have already generated, with just the introduction of one product so far. In fact, look for the first of two anticipated lab facility announcements later this month.”
The company also set up a quality team which includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University, and John McMichael, Ph.D.,President & CEO of Beech Tree Labs.
Research and development with NCM Biotech’s patented process has demonstrated a high potential for bringing FDA approved pharmaceutical products to market, for the treatment of multiple neurological disorders and cancer. The license agreement with PURA is specifically designed to accelerate funding for the FDA approval process, through proceeds generated by PURA’s sales of extracts for infusion into non-pharmaceutical consumer products. Beech Tree Labs is slated to manage the FDA approval process.
Puration, Inc. (OTCMKTS:PURA) is a volatile name to watch, and many who trade the space enjoy trading these kinds of stocks in the sub-penny sector which is prone to have spikes up and down. You know what your getting with PURA, and the best thing to do is strap in and enjoy the ride, but nearly all stocks in this sector have some level of extensive price swings and if you trade these on a daily basis you know how momentum can push these stocks from undervalued to overvalued in an instant.
Best advice on all sub-penny Cannabis sector traders is to trade with caution and be flat at the end of the day, specifically when the momentum traders have come and gone. It is nice to see the stock rise on new entrants and fresh thinking, but cannabis is a super hot sector where investors love to read, trade and own shares as the sector matures. For more news on Puration Inc. (PURA) and other fast-moving penny stocks, please subscribe to OracleDispatch.com below.