Alkame Holdings, Inc. (OTCBB:ALKM) Crashes To New Record Lows
Yesterday prior to the start of the session another round of email alerts touting Alkame Holdings, Inc. (OTCMKTS:ALKM) was released and it caused the stock to crash even further down. The stock wiped over 13% of its value and closed at its lowest point of the day of $0.33. Although the number of shares dumped yesterday was lower than the one from Wednesday, it was still more than 6 times higher than the average for the company of 190 thousand.
ALKM once again tried to aid the pumpers and issued another fluff PR that failed to produce any positive effect. In it the company announced that around June 16 a new research study about the benefits of their alkaline bottled water will begin. The problem is that so far the company has not been able to expand its operations beyond the bare minimum. At the end of March they were in a dreadful financial state:
- • $100 thousand cash
- • $730 thousand total current assets
- • $688 thousand total current liabilities
- • $29 thousand revenues
- • $302 thousand net loss
As we said in our previous article those $29 thousand reported sales cost the company the sum of $31 thousand. They have also managed to reach an accumulated deficit of close to $6 million.
After yesterday’s crash ALKM has lost over 70% of its value in just a month and a half thanks to the effects of the paid pump. The promotion first began with the creation of a landing page at the start of May. Almost immediately ALKM bombed by the massive 42% but the people behind the pump were not ready to give up. They waited for a while and last week a whole host of newsletters were hired to create as much artificial hype as they can. As you can see from the chart this new wave of artificial hype has once again crushed the stock to the ground.
With the stock refusing to move in the right direction the pumpers might be forced to look for their next target but even without them ALKM remains an extremely risky choice. 