Tranzbyte Corp. (OTCMKTS:ERBB, ERBB message board) is currently on another one of its red streaks. Despite the successful completion of its newest project, this particular ‘pioneer’ of the marijuana branch has lost about 25% of its market value over the last four market sessions.
ERBB’s latest pride and joy was announced in the company’s April 3 press release, in which the company announced the launch of its new web-based magazine – American GreenZine, a magazine for anything and everything cannabis-related. ERBB proudly proclaimed that it had a little something for everyone – “from the grower to the consumer, from seed to sale AND use”.
What is surprising is that ERBB actually managed to deliver this one on time – unlike its fabled ZaZZZ machine, this project didn’t suffer any delays. However, despite the fact that the site obviously contained numerous articles of interest to marijuana enthusiasts, its emergence didn’t halt ERBB’s descent at all. Why could that be?
Perhaps its failure to halt the company’s decline is due to the fact that most of the content it provides is already easily accessible on the Internet. Gathering it all in one place is certainly convenient, but apparently not an achievement significant enough to influence ERBB’s market standing noticeably.
As for the idea of creating a forum for “individuals from all aspects of the industry to freely communicate” – that is commendable, but may not necessarily turn out to be all that profitable. Whether that will work out to ERBB’s advantage or not remains to be seen, and that may prove to be a long wait.
For the time being, investors are left with the promise that ERBB will deliver its vending machine on April 12, as well as the following unimpressive numbers:
- Cash – $2.6 thousand
- Total assets – $3.8 million
- Total liabilities – $5.8 million
- Quarterly revenues for the period ended Dec 31, 2013 – $86 thousand
- Quarterly net loss for the period ended Dec 31, 2013 – $323 thousand
Certainly not the figures you’d expect from a company with a $248 million market cap, but then again, perhaps that’s the reason why ERBB is currently tumbling to the bottom of the charts.
Another marijuana company that crashed on Friday is Minerco Resources Inc. (OTCMKTS:MINE) who lost about 10% of its market value in the course of that session.
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