Despite expectations, yesterday’s session pressed Tranzbyte Corp. (OTCMKTS:ERBB, ERBB message board) nearly 10% down, to a close of $0.05. The ticker traded on faded volume compared to the previous session, at 70 million shares changing hands.
ERBB appeared in an iTalk, Inc. (OTCMKTS:TALK) press release, announcing a distribution deal between the two companies. The distribution agreement concerns TALK’s CloudTalk platform, a cloud-based security solution. ZaZZZ vending machines should soon carry CloudTalk to provide an extra security layer for card transactions.
TALK is a company that was targeted by over 120 paid promotional emails back in 2013, spanning early May to late June. The effect that the promotions had on TALK’s share price is easily visible on the chart near the bottom.
The last report published by TALK pegs its financials as follows:
- $26 thousand in cash
- $1.9 million in current liabilities
- $345 thousand in sales for Sep 2013 – Feb 2014
- $1.9 million in net loss for Sep 2013 – Feb 2014
The fact that ERBB closed red twice in a row after great exposure on national media does not cast a particularly favorable light on things. Longs will be keeping their fingers crossed that once Colorado authorities finish inspecting the ZaZZZ machine in a few weeks, approval will follow, with wide adoption in state dispensaries. This is the most likely short-term trigger that could prop ERBB’s price up and if the company fails to deliver exciting news and deals at that point, it may inch closer to its early 2014 price levels.
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