ALAS International Holdings, Inc. (OTCMKTS:VDSC) Still Kicking on Pumps
Friday’s session saw ALAS International Holdings, Inc. (OTCMLTS:VDSC) swim out of the oblivion a slow decline left it and arrive at nearly $0.01 per share. The stock’s surge was prompted by a new volley of email pumps sent for VDSC in July.
The onset of the new round of touts was timed along with the latest press release from VDSC and continued in the following days, with the latest two pumps arriving just yesterday. Sadly, those last two emails recap the supposed success of VDSC‘s price movement and tell subscribers that the promoter will be moving on to a new pick.
Our previous articles on VDSC should have given readers enough of a warning but some of the facts surrounding the company, its past and present bear repeating. First of all, a brief look at VDSC‘s financial reports reveals the following as of March this year:
- ZERO in cash
- $6.2 million in current liabilities
- ZERO in quarterly revenues
- $592 thousand in quarterly net loss
The recent press releases from VDSC, delivered in the usual broken English and speaking of “linean meters of space”, whatever this unit may measure, concerned the finalized merger with a Greek company and the expected commencement of cruise operations by this autumn. It’s worth mentioning the peculiar turn of events that happened last time VDSC came up with similarly bold press announcements.
In January 2012 VDSC announced it was about to acquire a luxury cruise ship called The Emerald, that was to generate $10 million worth of revenues from a certain chartering agreement with the Korean World Expo 2012. Those promises never came to fruition as the ship had already been examined by scrappers in 2011 and was on its way to a scrapyard around June 2012.
With no filing to reflect how the merger affected VDSC‘s financials and with a further 55 million free trading common shares pumped out by the company in January 2013, traders may want to be extra careful before they board this ship.
Other stocks that held investors’ attention over the last session included NanoTech Entertainment, Inc. (OTCMKTS:NTEK) who climbed by over 50% on 27 million shares traded. ImageWare Systems, Inc. (OTCMKTS:IWSY) shuffled nearly 2 million shares and closed 10% in the green.
