ANYTHING TECH MEDIA (PINK:EXMT) Enter Uncharted Territories
We can almost picture the board meeting during which the people behind ANYTHING TECH MEDIA (PINK:EXMT) had to choose a new name for the company. EXMT‘s business over the years has been so diverse that when they had to do it, they simply couldn’t think of a name that would properly illustrate the operations of the company. Then, amidst all the head-scratching, a person from the corner of the room probably raised his hand and said “Well, we have been involved with all sorts of ventures so we are ready to take on just about… anything.”. While we can’t be sure, we wouldn’t be surprised if this was exactly the way they chose the name “Anything Technologies”.
Another thing that we can’t be sure about is the venue for the aforementioned meeting. According to their latest filings, EXMT‘s principal office is located in… a P. O. box.
If you have any experience with penny stocks, or any other type of business for that matter, you will probably know that this is a huge red flag. But let’s forget about the address for a moment and focus on EXMT‘s operations. This will be a tough one.
According to their website, EXMT‘s primary business is the duplication and distribution of content on CDs, DVDs and USB flash drives. About a month ago, they announced a joint venture with another publicly traded company – PROGAMING PLATFORMS (PINK:PPTF). According to it the two companies were starting work on a revolutionary internet gaming platform, a jigsaw puzzle to be more precise.
Both PPTF and EXMT have been keeping quiet about the developments around the JV since the press-release, and when we saw the emails from Penny Stock G and Penny Stock Crowd, we thought that they two companies have finally released some news about the exiting new game. That’s not the case.
Instead, we found that EXMT have published another PR for a different partnership with a company called Whole Earth Systems. Together with them, EXMT will be designing, producing and selling hydroponic equipment for indoor farming of medical marijuana.
This is turning into something of an epidemic. Not only are there so many companies that are dealing with the production of weed and equipment for growing it, but there are also a number of others that are making their first steps in this industry. A couple of days ago, for example, Creative Edge Nutrition Inc (PINK:FITX) announced that they are going to produce a new sort of hemp-based protein. This was followed by a huge interest in their stock and the price surged by a whopping 191% which was followed by a 45% drop on the next day. Yesterday, after EXMT told about their entrance into the medical weed sector, we saw the exact same 191% leap. Will the same crash follow, only time will tell.
If we have to differentiate the two tickers we would probably say that while FITX refuse to tell us when we’ll be able to buy the miraculous weed-based protein, EXMT are saying that their new products will hit the shelves no later than this summer. We’re no so sure about that, though. The reason for our doubts lies in EXMT‘s latest financial report. It’s for the fourth quarter of 2012 and it contains the following figures:
- current assets: $1,798
- current liabilities: $777 thousand
- quarterly revenue: $70 thousand
- quarterly net loss: $130 thousand
Less than $2 thousand won’t get them far, that much is for sure, and while they say that the people who run EXMT have decades of experience with publicly traded companies, we’re not sure if this is such a good thing.
The Chairman of the Board, Mr. Arshad Shah, for example, has been and is affiliated with a few other tickers like ENERGY FINDERS INC (PINK:EGYF) and EMPIRE OIL REF CORP (PINK:EORZ). Both EGYF and EORZ are in the Pink, No information tier on the OTC Markets and both are pretty much anchored to the bottom of the chart.
We’re not saying that the same thing will happen to EXMT, but the current pump is definitely a cause for concern.
