eMONEco, Inc. (OTCMKTS:EMON) f/k/a Mascot Ventures Inc Suffers A Devastating Crash

On Wednesday eMONEco, Inc. (OTCMKTS:EMON) saw more than a million of their shares being traded in a single session. Such enormous interest was unprecedented for the stock and the positive momentum pushed it 12% up the chart. On the very next day however the performance of the company took a turn for the worse. Opening at $0.18, just below its previous close, EMON found themselves nearly 29% in the red by the time of the closing bell. The ticker finished the session at its lowest point for the day of $0.13.

The sudden drop shouldn’t have come as a surprise. In our previous article we already warned you that there was nothing supporting the stock and that the multitude of red flags could easily depress the ticker downwards.

Outside of its SEC filings EMON has not issued a single press release for the past six months. Without any information about the current operations of the company investors were left to rely on EMON‘s financial reports. So let’s see what the company had to offer at the end of July:

• $2802 cash
• $17,802 total assets
• $599 thousand current liabilities
• $376 thousand other current liabilities
• ZERO revenues
• $221 thousand net loss

To say that the balance sheet is nothing short of depressing would be an understatement. EMON have almost non-existent cash reserves, they have failed to generate any revenues at all while the losses are continuing to grow – for the nine months ended July 31 the company reported net loss of $1.77 million.

Investors should also keep in mind that the people who bought 24,180,000 shares for just $40,500 could still own a portion of that amount. Even at the current market price of the stock, just a few months back EMON were actually trading and more than $2 per share, these people could steal reap massive profits.