Three stocks dropping drastically with a double-digit fall are discussed in this report, these stocks appear in red for the day let’s see why?
BBX MINERALS LIMITED (ASX: BBX) – The group’s operating result was a loss of $2,208,832 for the year ended 30 June 2018 as compared to the 2017 loss of $1,888,485. The net assets of the Group have reduced by $95,575 from $2,192,886 at 30 June 2017 to $2,097,311 at 30 June 2018. During the year, the company raised $2,383,474, directors believe that future capital raisings can be undertaken to finance operations as required. The Group did not declare or pay any dividend for the year ended 30 June 2018. Compared to $1,201,265 in 2017, total cash and cash equivalents which was lower at the end of financial year 18 was of $761,590. The stock of BBX Minerals limited dipped by -12.5% to a market price of $0.175, the stock has undergone a performance change of -14.89% over past 1 year.
CANNPAL ANIMAL THERAPEUTICS LIMITED (ASX: CP1) – Phase 1A and Phase 1B clinical trials for CPAT1 was commenced by the company recently. With an estimated size of approximately US$12 billion for dogs and cats alone, companion animal drug market is a large and growing one. The company reported a significant increase in cash over June 30, 2017 period, of $754,188 and has an available cash balance of $5.11 million and no or zero debt facility. The results reported a loss of $1,694,369 compared $1,688,197 in 2017 resulting which the company from the commencement of financial year, did not declare or pay any dividends. Cannpal the stock dipped by -5.882% to a market price of $0.160, over past 1 year the stock has undergone a performance change of -14.89%.
INTRA ENERGY CORPORATION LIMITED (ASX: IEC) – Approximately 28% more than sales in the previous year, sales revenue for 2018 was A$33.079 million from A$22.706 million in 2017. The increase in sales during 2018 was mainly due to the growth in the ceramics industry and increased export sales to Kenya and Rwanda. The net cash inflow from operations was funded by a US$1.8m working capital facility. Cash and Cash Equivalents/ (Net Overdraft) at end of year is of ($1,857,000). No dividend was paid or declared during the year ended 30 June 2018. The Group generated a loss after tax for the year of $1.921m compared to 2017 loss of $4.422m. The stock of Intra Energy dipped by -13.333% to a market price of $0.160, the stock has undergone a performance change of 87.50% over past 1 year.
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