BNPD

Is Bionic Products Inc (BNPD)’s rally sustainable?

BIONIC PRODUCTS INC (Public, PINK:BNPD) shares had an amazing run up and soared 37% to close at $0.03 hefty volume of 11.47 million shares – more than 5.50X its average volume.

Yesterday’s sharp rise was followed by BNPD’s press release, which stated that the company has obtained “Limited Information” status s on the OTC Markets exchange, which was only possible after updating their financial positions and posting a legal opinion to explain them.

The stated news was successfully convinced its shareholders as its increases their confidence about the where about of the company and would also help in improving their liquidity over the span of time.

BNPD stock is trading very near to its 52-week high of $0.04. Like every penny stock, we really need to focus on sustainability of the recent rally.

If we go and search the company’s financial background, the company had no assets, while liabilities contains $129,500 as of May 17, 2011. Moreover, the company is yet to generate any revenue.

BNPD is into a business of oil and gas exploration, which is targeted to expand by acquiring and exploiting high rated oil properties.

So, before entering into BNPD, one needs to look at the company’s performance as well sustainability at current price

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