Appiphany Technologies Holdings Corp. (OTCMKTS:APHD)’s Jump Didn’t Last
Appiphany Technologies Holdings Corp. (OTCMKTS:APHD) exploded a staggering 3841.18% up the charts yesterday, after making an important business announcement, but is already crashing hard in today’s trading session.
There could be little doubt that the ticker’s stupendous climb up the charts was fueled by the news of its “securing of an annual brand protection contract with TOMS Shoes”, and by the paid tout that FinancialNewsMedia threw its way.
Those two things pushed it up to more than $0.2, on a dollar volume of more than 1 MILLION – an absolute record, by APHD‘s standards – and there is a good reason why that is the case.
One look at the company’s charts reveals that APHD has never been one of the investor favorites on the OTC Markets. One look at its financials reveals why that is the case:
- Cash & current assets – $0.2 thousand
- Current Liabilities – $168 thousand
- Total Liabilities – 1.2 million
- NO REVENUES EVER
- Net Loss – $544 thousand
That’s right, we’re talking about a company that has just $200 in cash to its name, but has racked more than half a million dollars worth of loss on the last quarter alone. Additionally, there’s the issue of the company’s convertible debt that can be turned into common stock at a rate of “51% of the lowest two trading prices of the Company’s common shares for the past 30 trading days prior to notice of conversion.”
True, APHD‘s reports claim that it barely has $100 thousand worth of notes, but consider this – the holders of that debt could transform it into shares at a rate of approximately $0.0025. This means that there are currently 32 MILLION potential shares APHD stock that can be dumped on the market, all while APHD is being touted.
In summary – there is a good reason why APHD has been stamped with a skull and crossbones sign by the SEC. Investors should take a hint from that dread sign.
