GEMZ Corp seems an odd sort of company. The announcement that they are “in negotiations to acquire a nanotechnology based on bucky balls” is somewhat premature – normally deals are announced when they are done, not during negotiations.
Apart from the fact that the press release talks mainly about what a bucky ball is rather than the application – hydrogen storage apparently, GEMZ have been putting out a press release a week about some aspect of their involvement in nanotechnology.
Unfortunately the barrage of nanonews has had little effect of the stock price, dipping from a giddy ten cents in August to a fraction over a cent this week. The recent announcement linking the company with a possible breakthrough in hydrogen storage, which we are somewhat sceptical about, looks like an attempt to stave off the inevitable ignominy of becoming a sub penny stock.
The last month's spending on press relases could have bought you 54,500 shares in the comany.
Posted by Cientifica at October 27, 2004 03:37 PM | TrackBack