Dominovas Energy Corp. (OTCMKTS:DNRG) Soars Even Higher
Dominovas Energy Corp. (OTCMKTS:DNRG) added another 189.04% to its market value yesterday, on top of Wednesday’s incredible 1303% jump.
Government contracts always bring great opportunity for advancement and profit – so it is only natural that once a company is awarded a partnership of such magnitude the ticker would soar.
Still, as good as that news may be, investors would do well to note some details about DNRG that may prove important. Like the fact that the numbers in the company’s latest financial report looked like this:
- NO CASH ON HAND!
- Prepaids – $15 thousand
- Convertible debt – $330 thousand
- Current Liabilities – $1.1 million
- Net loss – $228 thousand
But that’s not the worst red flag that the filing has to offer a diligent investor. Opportunistic traders and investors looking for long term commitment to DNRG stock would do well to pay attention to the report’s section named “5. CONVERTIBLE DEBT”.
Said section is so obscure, sparse and poorly written that it leaves a lot of confusion. From what can be gleaned from it, it becomes clear that at the moment, a note holder called Kodiak Capital Group can convert $330 thousand into shares at a rate of either $0.0044, or $0.0022 per share. The stock’s current price is $0.211.
Investors should take that monstrous gap into account as they make up their mind about committing to DNRG stock.
