Alas International Holdings, Inc. (OTCMKTS:VDSC) Climbs Up on Expectations
Yesterday marked another close in the green for Alas International Holdings, Inc. aka PV Enterprises International, Inc. (OTCMKTS:VDSC). This time the spike was less then half of Tuesday’s 42% rise but still the stock closed at $0.016. The ticker hasn’t been on these price levels since mid- August last year so something must be going right for them.
The problem is that that something apparently is based on their PR announcements without any concrete information. As we informed you in our previous article, VDSC revealed a merger with the greek Hydraiki Naval Company. According to the terms the independent company agreed to buy 25 million shares of VDSC each priced at $0.50. To some this may sound way too good to be true having in mind that VDSC have never in the past 3 years even reached $0.3, let alone half a dollar.
The latest shareholder update from May 9 informed about a team from the company departing for Europe this weekend to finalize all the agreements, previously announced mergers, joint ventures and acquisitions. Expecting some big results on their return investors flocked around the stock but looking at the financial situation of the company we are somewhat puzzled.
Their quarterly report for the period ending December 31 contained the following:
- no cash
- $926 thousand total current assets
- $960 thousand total current liabilities
- no revenue
- $762 thousand net loss
We just couldn’t help but ask ourselves how exactly are they going to realize their future plans of “mergers and acquisitions throughout the Greek and Caribbean islands, and the Mediterranean, and south and central American and north American markets”.
A correction to the price may come at any time so extreme caution should be exercised before investing in VDSC. They are a pink sheet company so the next financial report may take awhile and without it investors have no authentic information to rely on.
