Apple Rush Company (OTCMKTS:APRU) Boosted By News
Apple Rush Company (OTCMKTS:APRU)’s stock rarely got dollar volumes about $50 thousand, but was cradually ascending the charts in the past month. There were of course some sessions in the red, however, things were looking good.
Yesterday, the company announced that they have signed a Memorandum of Understanding with LiveWire Egogenics, Inc. (OTCMKTS:LVVV), who will purchase the controlling interest in APRU alongside the brand formulas, applied-for trademarks and intellectual property.
The company will also be renamed LiveWire Herbaceuticals, Inc. but there is no mention if there will be a symbol change. Still, the news were considered good and APRU‘s stock made a good jump, and a there was lot more trading than usual.
The gain at the end of the day was 66% and as the company stock went on to close at $0.003 we saw some 107.8 million shares change their owners, in term generating a decent $380 thousand in dollar volume.
Today’s session, however, isn’t going that well and yesterday’s gain is almost obliterated, just 1 hour into trading, after APRU gapped up and opened at $0.0042. Only time will show if there will be a more serious correction.
What is the actual situation in the company? It is hard to tell, because they haven’t filed a report for quite a long time. In fact, enough time to be marked with the red stop sign in the OTC markets as OTC Pink No Information.
The last financial statement that we saw was covering the period ended March 31, 2012 and it wasn’t something that you would expect from a company that has been incorporated in 1998, although they claim to have been operating for 43 years.
Back in 2012, the company had $0 cash on hand, $4 million in current liabilities, $374 thousand in total assets, zero quarterly revenues and a $122 thousand net loss. With these numbers back then, we can’t say we expect that they did much afterwards, considering they are not too keen on sharing the information.
We can’t say that LVVV are doing a lot better, but at least they are generating revenues. The company has $24 thousand in cash, almost a million in liabilities, $112 in quarterly revenues and a $976 thousand quarterly net loss (74% of which is out of general and administrative expenses) for the quarterly period ended September 30, 2013.
This is the exact reason for which we would advise you to do your due diligence and weigh out the risks, before deciding to invest in APRU.
Bioheart, Inc. (OTCMKTS:BHRT) also had a great session, third one in a row, gaining 52% in price on high volumes, but is following APRU‘s steps today. ZAP (OTCMKTS:ZAAP), however, was the biggest winner of the day, with a 306% burst.
