Today, we need to present a new business that has excited the market after entering the bitcoin business. It is SOHM Inc. (OTCMKTS:SHMN), which is also a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories.
In less than 5 days, the company has gone from trading at $0.0001 to hit the $0.0013 share price level.
But, there is more.
The market interest in the stock is rising as well, since the trading volume has been quite elevated recently. More than 600 million shares changed hands some days.
Have a look at it:
SOHM Inc. (OTCMKTS:SHMN) is a growing generic pharmaceutical manufacturing and marketing company with a global presence and marketing plan that assures continuous growth.
The company is specialized in rapidly growing healthcare segments, such as Nutraceuticals, Cosmeceuticals, and other major therapeutic segments. It is headquartered in North America and manufactures in India.
The company seems to have accumulated expertise in the industry, as it was “voted the fastest growing generics prescription drug manufacturer in 2012 at the India Conference of National Integrated Medical Association.”
The following were released recently driving the share price higher.
On November 28, 2017, the company released that the Board of Directors has decided to change the reverse stock split, which was approved last year. We appreciate the decision and believe that most shareholders should have done it too.
The management was quoted:
“We are pleased to announce due to the obvious recent renewed support and confidence in the company and its management, it is in the best interest of the company, its shareholders and Investors to cancel the proposed reverse split of the common stock announced last year.” Source
In the same press release, it was noted that the total shares outstanding were approximately 1.25 billion.
Additionally, something very significant was said. The directors have not sold any of their stocks and have not done so for the last several years, which indicates their confidence in the company’s operations. Furthermore, they have no intention to sell any of their positions currently. This is something to remark very seriously.
On November 29, 2017, the company noted that it is planning to launch a “unique protein supplement I-Prolec™ in the American multibillion dollar supplement market.” According to the press release, the company has tested this product in India and has received very good response from consumers.
“This unique product, I-Prolec™, is formulated keeping in mind all the age groups and genders. I-Prolec™ will help people who have protein deficiency as well as athletes who need extra proteins, especially for those who adhere to a vegetarian diet.” Source
That’s not all.
The formulation of the product comes with an easy to absorb Vitamin B6, Vitamin B9, Iron, plus all the minerals and vitamins that would make healthy living a reality.
Better announcements were going to make the share price spike up even higher.
On December 5, 2017, the company released that it is relaunching its flagship skincare product FōHM; a rejuvenating, cleansing, and clarifying facial foam powered by SOHM’s proprietary formula Salic2™.
What were the reasons for this business initiative:
– The American market is more mature and experienced with this type of product than markets in developing countries, in which we have been selling, where acne, blackheads and other skin conditions also are a problem.
– The product can be sent through online retail marketplaces, such as Amazon.
– It is a more effective formulation than that available in the US.
Finally, the most interesting announcement in our opinion was the following.
On December 5, 2017, the company released that it is entering the growing and exciting ico bitcoin market. The text was very short and simple. Have a look:
“SOHM, Inc., To enter ico bitcoin market. Updates to follow within a couple of days.” Source
Is this an opportunity?
Yes, we believe that it is a great catalyst. Not many people should have noticed that the company is becoming another player in the cryptocurrency industry. In the following days, more concrete information will be released and the share price could spike up even more. You know how it works. More market participants will get to know the company, the demand for the stock may increase and the share price could go higher.
Currently trading with a market cap of $1.7 million, SHMN is an exciting story among small caps. The company will need to upload its financial statements so that more market participants become interested in the new business ventures. But, with a float equal to only 909,566,956 shares, we believe that the high volatility could seduce a good amount of market participants.
To sum up, follow this new name and be ready to assess more news related to ICOs.
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Image courtesy of Marco Verch via Flickr
Disclosure: We have no position in SHMN and have not been compensated for this article.