Shares of Pacific Sands, Inc. (OTCMKTS:PFSD) are up big in early afternoon trading as the company’s transfer agent, Corporate Stock Transfer, Inc., has confirmed with shareholders that the total number of shares outstanding remain at 140,077,252. Shareholders had become concerned that the company may have been diluting in order to raise capital, but these concerns seem to have faded after this confirmation, at least for the time being.
Investors and traders alike hope that shares of Pacific Sands, Inc. (OTCMKTS:PFSD) will continue to rebound after they’ve dropped by more that 80% from their November highs. While the company seems to be expanding on all fronts, working within a 10,000 square foot warehouse and recently launching several products on Amazon, microcap penny stocks always require a good deal of caution. With a market cap of just over $600,000, and a share structure which isn’t changing much as of late, many investors hope that the stock will rise as the company expands its operations.
The stock is currently trading higher by 76.00% or $0.0019 following the positive news, hitting $0.0044 per share at the time of us publishing this article. About 10.91 million shares traded hands or up 314.83% from the average. PFSD has declined 86.36% since May 19, 2015 and is currently downtrending. It has underperformed the S&P500 by 84.10%.
Pacific Sands, Inc. develops, manufactures, markets and sells a portfolio of liquid and powder cleaning and water-management products based on blended botanical, nontoxic and natural chemical technologies. The company has a market cap of $572,282. The Company’s products have applications ranging from water maintenance in spas, swimming pools, fountains, decorative ponds; cleaning, such as non-toxic household and industrial, and vegetation control. It currently has negative earnings. The Firm has products in its portfolio of earth, health, pet and kid friendly offerings, including Oxy-Boost, an oxygen-bleach-based, product.