AppYea Inc. (OTCMKTS:APYP) Crashes And Burns
Yesterday’s session took AppYea Inc. (OTCMKTS:APYP) 25% down the charts, on a record dollar volume, and once you take a look at it, there were some very odd details about its fall.
No, the peculiarity that we’re talking about isn’t that the stumble was sudden, dramatic and violent – although it is true that the fall was all of those things. What it is so confusing in this situation is the fact that said crash took so long to come to pass.
Because, when all is said and done, APYP is a company whose latest financial report looked like this:
- cash – $3 thousand
- current liabilities – $392 thousand
- revenues for Q3 &Q4 2015 – $1 thousand
- net loss for Q3 &Q4 2015 – $2.2 million
And if the idle unimpressive financials weren’t bad enough of a red flag, there’s also the matter with the company’s share structure.
The long and short of it is that as of October 2015 the company had 52 million outstanding shares. About four months later that number had more than doubled.
The unimpressive nature of the company, the lack of developments around it and the dilution that it has heaped on investors – any one of those factors is enough to topple the ticker. Add a failed pump by Penny Stock Dream and some dubious PR announcements about planning to acquire Intellectsoft into the mix, and APYP‘s whole situation becomes quite comic, in a tragic sort of way.
This is why the fact that APYP hasn’t slid into triple zero obscurity yet is something of a miracle in and of itself.
