News - Write-up on BG Med Tech (RIGH)...
By Boyan Angelov
Aug 12, 2014
http://www.pinkinvesting.com/article/view/BG-...t-Interest
...........................
Much truth to this, however, item of interest to consider:
- BG MedTech just hit the reset button in Q4/2013 with new access to capital.
..................
"BG Medical Technologies, Inc. (RIGH) Struggling To Attract Interest
BG Medical Technologies, Inc. (RIGH) is among the companies, looking to establish themselves in the medical marijuana sector. With the growing interest in the industry since the outset of the year, the competition has increased a great deal and many ventures are struggling to get recognition. This has so far been the story with RIGH whose initiatives to develop as a medical marijuana company have been unnoticed.
Looking at the recent development around RIGH, the company has set forth its plans going forward. However, there is yet to be an update on any of the announced initiatives. The company's participation at “The State of Marijuana” national conference was announced a while back. The event was scheduled to take place on July 26. RIGH's CEO Angel Stanz was announced to participate and talk about “bitcoin and the marijuana industry”, as the headline published by the company wrote.RIGH_chart1108.png
A couple of weeks after the event was scheduled to take place, RIGH has yet to give any input on how the company's participation was beneficial for the venture itself and for its shareholders who were invited to participate. There was no change registered on the stock market after the conference took place, so there is nothing to make us believe the company made any advancements from its participation.
Judging by the latest announcements that came from RIGH, it would appear the company has focused on the healthcare aspects of the medical marijuana industry. On July 15, the company announced opening a subsidiary by the name of Genius Biotech Corporation. The plans for the subsidiary were to focus on medical marijuana health care. RIGH said Genius Biotech Corporation is scheduled to have its own website soon and be fully reporting. Four weeks after this announcement, there is yet to be an update on the established subsidiary.
A further step into healthcare contribution was made with RIGH's initiative to provide free educational materials to physicians. The company stated that it is currently developing training materials that will be made available online. The news, much like the other recent statements made by RIGH, was unable to generate interest among investors.
At this point, the company has yet to launch a venture to develop its own product or intellectual property. Further development as a medical marijuana company would require a lot of investments. This is an aspect that should not be disregarded when evaluating RIGH's potential to establish positions as a medical marijuana penny stock. The company's latest financial disclosure is the quarterly report for the period ended March 31, 2014 which contains the following:
Cash: $52,1 thousand
Total current assets: $1,7 million
Total current liabilities: $329,4 thousand
Revenues: $10 thousand
Net loss: $18,3 thousand
RIGH_logo.pngRIGH has a good base of assets to exploit, though it is low on cash. The company has managed to reduce the amount of net loss from the past periods. The considerably decent financial backing RIGH has may help the company in its route to establishing itself as a medical marijuana firm if it is put to good use. Until the company makes more advancements, however, investors should evaluate its current standings before considering RIGH's stock as an investment option."
By Boyan Angelov
Aug 12, 2014
http://www.pinkinvesting.com/article/view/BG-...t-Interest
...........................
Much truth to this, however, item of interest to consider:
- BG MedTech just hit the reset button in Q4/2013 with new access to capital.
..................
"BG Medical Technologies, Inc. (RIGH) Struggling To Attract Interest
BG Medical Technologies, Inc. (RIGH) is among the companies, looking to establish themselves in the medical marijuana sector. With the growing interest in the industry since the outset of the year, the competition has increased a great deal and many ventures are struggling to get recognition. This has so far been the story with RIGH whose initiatives to develop as a medical marijuana company have been unnoticed.
Looking at the recent development around RIGH, the company has set forth its plans going forward. However, there is yet to be an update on any of the announced initiatives. The company's participation at “The State of Marijuana” national conference was announced a while back. The event was scheduled to take place on July 26. RIGH's CEO Angel Stanz was announced to participate and talk about “bitcoin and the marijuana industry”, as the headline published by the company wrote.RIGH_chart1108.png
A couple of weeks after the event was scheduled to take place, RIGH has yet to give any input on how the company's participation was beneficial for the venture itself and for its shareholders who were invited to participate. There was no change registered on the stock market after the conference took place, so there is nothing to make us believe the company made any advancements from its participation.
Judging by the latest announcements that came from RIGH, it would appear the company has focused on the healthcare aspects of the medical marijuana industry. On July 15, the company announced opening a subsidiary by the name of Genius Biotech Corporation. The plans for the subsidiary were to focus on medical marijuana health care. RIGH said Genius Biotech Corporation is scheduled to have its own website soon and be fully reporting. Four weeks after this announcement, there is yet to be an update on the established subsidiary.
A further step into healthcare contribution was made with RIGH's initiative to provide free educational materials to physicians. The company stated that it is currently developing training materials that will be made available online. The news, much like the other recent statements made by RIGH, was unable to generate interest among investors.
At this point, the company has yet to launch a venture to develop its own product or intellectual property. Further development as a medical marijuana company would require a lot of investments. This is an aspect that should not be disregarded when evaluating RIGH's potential to establish positions as a medical marijuana penny stock. The company's latest financial disclosure is the quarterly report for the period ended March 31, 2014 which contains the following:
Cash: $52,1 thousand
Total current assets: $1,7 million
Total current liabilities: $329,4 thousand
Revenues: $10 thousand
Net loss: $18,3 thousand
RIGH_logo.pngRIGH has a good base of assets to exploit, though it is low on cash. The company has managed to reduce the amount of net loss from the past periods. The considerably decent financial backing RIGH has may help the company in its route to establishing itself as a medical marijuana firm if it is put to good use. Until the company makes more advancements, however, investors should evaluate its current standings before considering RIGH's stock as an investment option."
