Easton Pharmaceuticals Inc (OTCMKTS:EAPH) is making a spectacular move up off its base at a penny on massive volume as pot stocks heat up across the board and light the bb’s on fire. EAPH has a history of explosive moves running from sub pennies to a dime this time last year when pot stocks ruled the bb’s.
Now that the sector is on fire again and EAPH is back at the bottom of its range speculators are all over this one. Currently EAPH is exploding on massive accumulation.
The shell has been around for years and was initially formed as L.A.M. Pharmaceutical, Corp on July 24, 1998. After a 3000 for 1 reverse stock split in 2009 the Company changed their name from LAM Industries Inc., to Easton Pharmaceuticals Inc.,
Easton Pharmaceuticals Inc (OTCMKTS:EAPH) was a specialty pharmaceutical company involved in various pharmaceutical that joined the pot boom in 2013. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs and therapeutic cosmetic healthcare products focused on cancer and other health issues geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions that are all in various stages of development.
EAPH ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 49% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. The company’s gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of Cannabidiol extracts.
EPAH put out some EPIC news on December 31 announcing it has signed an agreement with Medicated Markets International LLC., a major California medical marijuana grower. While EAPH did not disclose details of the transaction they did say full details will emerge in subsequent releases upon finalization of a final executed agreement.
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Medicated Market’s assets include: Two Nursery locations (20 acres) in the City of Perris, Riverside county and one main growing location in Mendocino County with a total actual growing area of approximately 3 acres. The Sites have a history of no less than three years of growing Medical Marijuana for resale to Dispensaries in the Los Angeles area. Affiliated farm names, the nursery locations including addresses are to be provided on the date of execution of a finalized agreement expected in January of 2015.
The press release goes on to say that the LOI was executed and the majority of the conditions being checked off which included a company audit, proof of effective implementation of the GroZone technology through AMFIL Technologies, clarification on financing and a clear path to patient acquisitions in Canada having been demonstrated; current negotiations have now entered the advanced stages.
A medicated markets delegation including having its master grower visiting with Easton management during the weekend of January 10th, will lead to an additional update including the total number of growing plants, strains, current dispensaries being serviced including names and addresses of those dispensaries and any other pertinent information.
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Currently trading at a $7.5 million market valuation EPAH has no revenues to date although they do have a decent cash position of $650,000 compared to little debt. The stock has fallen a long way since those heady days at the heat of the pot boom last year when EAPH traded as high as a dime. Moving up of its base at a $0.01 EAPH is exploding off the bottom of its range on massive volume as the pot sector gets seriously hot; with more big news expected to hit any day now EAPH is a stock to watch.
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Disclosure: we hold no position in EAPH either long or short and we have not been compensated for this article.