Hybrid Coating Technologies Inc. (OTCMKTS:HCTI) Spikes On Increased Volume
Hybrid Coating Technologies Inc. (OTCMKTS:HCTI) managed to rise 12.50% yesterday, after more than 54 million shares changed hands.
Although the dollar volume was not significant, even by the meager standards of the OTC Markets, this is by far the most trading that HCTI has seen in more than a month. The fact that even the positive announcements that the company made yielded such a meager reaction from the market is indicative enough of the investor’s disinterest in HCTI.
But that is to be expected. After all, how can HCTI impress anyone, with its financials looking like this:
- Cash & current assets – $2 thousand
- Intangible assets – $1.8 million
- Accounts payable – $957 thousand
- Total liabilities – $8.3
- NO REVENUES
- Net loss – $2.2 million
And meager numbers hinting at idleness are not even the company’s biggest apparent failing. It is its tendency towards toxic funding and overall careless attitude towards investor value that should be watched out for.
Long story short – HCTI did manage to jump in double digits on a spike of activity, but its relative lack of popularity on the OTC Markets makes it a rather dangerous gamble for opportunistic traders. Simply put – even if they do manage to play their cards right, they may be stuck with highly illiquid stock.
Its balance sheets don’t present anything that could attract long term investors into the fold, either.
Overall – HCTI‘s situation does not look good, which is why the announcement of the company’s mystery partner, that may or may not have some connection with Nike Inc. (NYSE:NKE) probably won’t help keep the ticker up for very long.
