PV Enterprises International, Inc. (OTCMKTS:VDSC) Makes a Splash
Monday marked another heavy-volume session for PV Enterprises International, Inc. (OTCMKTS:VDSC) after a full month of steadier trading. The ticker moved over 158 million shares and closed the session 38% up.
The reason for the move was likely a press announcement coming late last week. VDSC published a press release that chewed through the usual optimistic fluff that traders should have got familiar with by now, considering most of VDSC‘s past releases were very similar. The last release was literally brimming with promises of a bright future in he ecotourism sector, thanks to a new ‘focus strategy’ that should bring success.
We have covered the ticker in the past, once during a pump campaign and later when it was moving on press releases and promises once again, but never managing to claw its way above half a cent after its August slip. Those articles also contain a short account of VDSC‘s old press announcement and promises of millions in revenues following Letters of intent that never culminated into anything.
The company posted its yearly report on October 21, even though VDSC‘s fiscal year ends in June, but better late than never. Here is a brief look at some numbers from the report:
- one hundred dollars in cash
- $6.5 million in current liabilities
- $39 thousand in annual revenues
- $1.7 million in annual net loss
Being a pink sheet, VDSC does not deem it necessary to publish 8-Ks along with every optimistic bit of PR so traders are limited to monitoring the websites of the company and its subsidiaries. Sadly, the majority of the content, including booking cruises and examining the company’s vessels, is still stuck in ‘coming soon’ mode.
What traders can look at in the meantime is the movement of VDSC‘s outstanding common shares – the count went up from 230 million in June 2012 to 494 million in June 2013, which is just a tad over a twofold increase. The majority of those were issued for ‘services rendered’.
Considering the track record of big promises with no real followup results that have plagued VDSC for years now, this new jump will hardly turn into much more than another small splash that will quiet down soon.
