Advantis Corp. (OTCMKTS:ADVT) Gets A Pump
tags: ADVT
Advantis Corp. (OTCMKTS:ADVT) exploded 160% up the charts on Friday, after being promoted by a couple of notorious pumpers.
35 million shares of the company’s common stock changed hands in that one session, and by the look of the charts and the increased volume it looks like, by any standards, the pump was a success. Now, all we can do is wait for its aftermath – which should be grizzly indeed.
Why?
Because, as the Caveat Emptor sign stamped on its OTC Markets profile page suggests, ADVT is one of the most suspicious entities on the OTC Markets. Its latest financial report showed what can only be described as an ugly mess:
- No cash or assets of any kind
- current liabilities – 361 thousand
- long term liabilities 1.2 million
- no revenues
- Net loss – $164 thousand
Said sorry excuse of a report is so tangled that it is nearly illegible, and it omits several key details related to the company’s vast outstanding debt. Virtually nothing is known about ADVT‘s convertible debt, except that there is plenty of it. Is it toxic? Judging by the company’s overall state and very nature, it most probably is.
Additionally, there seems to be plenty of room for dilution, with ADVT‘s total shares outstanding being just 788 million and its shares authorized being 1 billion.
So let’s recap – an idle OTC markets underachiever, that literally has nothing but suspicious debt to its name, has just received a paid pump by one of the most notorious pumper outfits out there. The only way this state of developments could unfold should be obvious with this in mind.
