Mistral Ventures Inc (PINK:MILV) Gets in the Top Ten Penny Stocks List

Mistral Ventures Inc (PINK:MILV) has been among the hottest penny stock on the pink exchange. The company has climbed into the top 10 hottest penny stocks list due to the heavy trading of its stock.

The company has pinned a 3-month daily average volume of 42 million shares. Given the current share price, which determines the average dollar volume of the stock, MILV gets in the top ten most liquid penny stocks on the pink exchange.

After a two week’s ascension MILV reached a 52-high at $0.13. However, in the last two sessions the stock experienced a sharp correction down to $0.06.

The trading activity around MILV has been especially intensive since the end of October. At that time MILV stock has already gathered the eyes of penny stocks investors by a significant price jump.

Moreover, the company’s unofficial interim financial report was filed. It showed that MILV had a positive net worth of near $700 thousand. However the bottom-line of the financial statement was still negative.

Last month MILV also announced the acquisition of Nature’s Bioceuticals Inc. through a share exchange agreement. In detail, MILV issued 652 million shares in order to acquire all of the outstanding shares of BNI, which amount to 4.4 billion.

As a result the former shareholders of NBI now control near 72% of MILV’s issued and outstanding shares. This way the total number of issued and outstanding shares of the company has increased roughly three times, from 347 million to 1 billion.

Thus, it can be expected that the market valuation of MILV may experience some correction in order to fit the new number of outstanding shares.