Stellar Biotechnologies: We've Seen The Pump, Now Here Comes The Dump
- We believe Stellar Biotechnologies' share price to be a product of a well-timed promotional campaign.
- SBOTF's share count has risen 88.2% in three short years, and the September 2013 PIPE was done at a fully diluted share price of $0.3415/share. (sourced below).
- The company appears to be operating far below its capacity, and has reported net losses of ($14.8M), ($5.1M), and ($3.5M) for the past three years. (source 3).
- Promotions have touted the company's former agreement with Sigma Aldrich, but we've found that this agreement had expired in 2013.
- SBOTF's biggest competitor, BioSyn, established in 1984, claims to be able to produce far more than 1,500 grams/year. (SBOTF's current capacity).