ALAS International Holdings, Inc. (OTCMKTS:VDSC) Moves Up on More Pumps
In yesterday’s market ALAS International Holdings, Inc. (OTCMKTS:VDSC), now publishing its filings as PV Enterprises International, Inc., climbed another 27% to arrive to a close above $0.01 once again. The company’s run was aided by another wave of pump emails.
The first new pumps for VDSC appeared on the same date as one of the press announcements from the company. VDSC had already announced the completion of its merger process with Hydraiki Naval Company – a business running one-day cruises around the Greek islands. Even though this earlier press release stated that the merger was completed, the very same sentence reads that the “due diligence and auditing of the financing” are not complete. How, then, is the merger “completed” is not too clear.
The company is making the usual bold statements in its press announcements, stating that a certain ship, MV Porto, will commence cruise operations this summer and the company will generate $7 million iin revenues within the first six months of operations. The new pumps for VDSC don’t even mention those numbers but instead just quote the price movement of the stock.
As of its latest financial report for the period ended March 2013 the company had the following figures to show:
- ZERO in cash
- $6.2 million in current liabilities
- ZERO in quarterly revenues
- $592 thousand in net loss
How VDSC intends to turn this around into revenues of $7 million in six months’ time is a bit of a mystery. The company also ensured shareholders that it “will not do dilution”, even though in the first three months of 2013 there were 55 million new, free trading common shares of VDSC issued.
To top it all off, there’s the 2012 fiasco which we previously covered, with yet another cruise ship that was, once again, supposed to generate $10 million worth of revenues for VDSC but in the end it didn’t. Traders are advised to be extra careful with this one, especially considering it’s currently being pumped and there’s no telling when the email hype will come to an end.
Other stocks that climbed yesterday include Xumanii, Inc. (OTCMKTS:XUII) who opened with a gap up and closed the day nearly 18% up. Fresh $200 thousand pump Arch Therapeutics, Inc. (OTCBB:ARTH) gained 36% to arrive to a close of $1.24 per share.
