Marilynjean Interactive Inc. (OTCMKTS:MJMI) Is Gathering Even More Momentum
Investors are rightly excited about Marilynjean Interactive Inc. (OTCMKTS:MJMI)’s announcements – which is why the ticker has continued its climb up the charts on heavy volume for more than a month now. However, even a cursory glance at MJMI’s OTC markets profile page reveals that something is very wrong with the current situation.
As you may have guessed, we’re talking about the company’s market value. As of yesterday’s close, MJMI’s market cap was $315 MILLION – and double digits of percentage gains are being added to that number even as we write this article.
Any reasonable investor would have to agree that such a market cap is suspiciously high for a company on the OTC Markets QB section. So let’s take a more careful look at the company’s achievements to date, shall we?
Here’s an extract of its latest financial report:
- cash – $5 thousand
- total current assets – $8 thousand
- liabilities – $198 thousand
- NO REVENUES
- net income – $1676
See the inconsistency? Those numbers don’t look like they belong to a company whose stock is priced at $2.05. They look like they belong to a company whose ticker should be dragging its feet through the mud of triple zero illiquidity.
True, MJMI talks big, and if its PR claims turn out to be true, it may find itself with reasonable commercial achievements before long. However, as it is now, its market valuation is beyond all reason – and as we all know, the market tends to correct such mistakes eventually.
Some due digging into the company’s reports even hints at where this correction may come from. Way back in 2012, MJMI sold 42 MILLION units for $0.01 a pop. Although about half of those were eventually canceled, the other half were not.
Investors should think very carefully about what this means, before jumping on the MJMI hype train.