Alkame Holdings, Inc. (OTCBB:ALKM) Drops Even Lower
After 4 days of silence the pumpers once again returned to tout the stock of Alkame Holdings, Inc. (OTCBB:ALKM). This time the emails were sent by the newsletter Bull Trends for a total compensation of $50 thousand. If you have read any of our previous articles about the company you should know by now that any pump efforts for its stock always lead to more losses in share price.
When the landing page signaling the start of the promotion was created at the start of May ALKM suffered a massive crash of 42% and slid down from above a dollar to close to 50 cents. Last week when the email alerts first started flying around the company once again started crashing and so far has logged five consecutive days in the red.
Yesterday ALKM wiped another 5.7% and dropped below the 20 cent mark closing the session at $0.198. The drop may not be among the biggest registered by the company but the 1.8 million of shares dumped during the trading hours set a new record. Compared to the highs posted less than two months ago ALKM is down by more than over 80%.
Even if the pumpers decide to leave the company on its own there is little hope that it can regain its lost positions. ALKM is in a dire financial state finishing the quarter ending March 31 with:
• $100 thousand cash
• $730 thousand total current assets
• $688 thousand total current liabilities
• $29 thousand revenues
• $302 thousand net loss
• $730 thousand total current assets
• $688 thousand total current liabilities
• $29 thousand revenues
• $302 thousand net loss
The company is generating revenues through its alkaline water but the amounts are negligible. In fact, ALKM incurred costs of $31 thousand in order to get those $29 thousand revenues.
With such limited operations and horrible stock performance it may be for the best to avoid any investments in the company. Still, if you believe in the potential of their product be sure to do extensive due diligence and take into account all the risks before investing any sums. 