Propanc Health Group Corp (OTCMKTS:PPCH) ended the volatile week in green after regaining massively on the bourses. There was no specific announcement made by the company to propel its shares. It appears that the optimism was driven by the company’s previous notification, where it talked about its inside story to feature in the NY Times, Sunday Edition.
Convertible notes
Since the day has passed already, it will be crucial to see if the optimism continues today as well. It is expected that the investors will now turn to more important aspects of the company, which includes its weak financial standing and share dilution. During the last week, the company came forward with a press note stating its intention of repaying outstanding convertible notes that are due to mature in May and June.
At the same time, Propanc Health Group Corp (OTCMKTS:PPCH)’s CEO James Nathanielsz tried to calm investors’ nerves over the company’s share structure. He said that a number of investors have come forward to help the company repay its outstanding debt. He added that they are taking every measure to limit the share dilution, while keeping in view its capital needs.
Not digging into details
It will be noteworthy that Propanc Health Group Corp (OTCMKTS:PPCH) did not delve into discussing details about its repayment plans as its press release gave only limited information. Though Propanc Health Group Corp (OTCMKTS:PPCH) did try to comfort the apprehensions surrounding its $950,000 outstanding debt, stating that the company has terminated the agreement and is paying from its own sources.
Until now Propanc Health Group Corp (OTCMKTS:PPCH) has not come up with a clear plan of taking forward the commercialization of its therapies, which is its core business. The stock of the company soared by 31.36% to $0.0645, while an average of 31.32 million shares changed hands. Undoubtedly, today’s session will be quite decisive for Propanc Health Group Corp (OTCMKTS:PPCH).
