BlastGard International Inc.(OTCMKTS:BLGA) Rushes To The Top
BlastGard International Inc.(OTCMKTS:BLGA) barely saw any trading at all in the last year or so, before exploding 120% up the charts in yesterday’s session. So what gives?
So far, the company doesn’t seem to have any paid pumps going on – only an attempt at unpaid promotion from a pumper outfit with the rather evocative and association-rich name “The Wolf”. However, the sheer success of BLGA‘s jump suggests that there are other powers at work here, far more influential than a single pumper unit touting for no pay.
Suffice it to say that this state of developments is confusing and nonsensical – at the very least BLGA doesn’t seem to fit the stereotype for a pump job. Unlike most other OTC Markets pinksheets companies that bear the dreaded “caveat emptor” sign, this one’s financials don’t appear horribly outdated or all that mediocre:
- Cash – $73 thousand
- Total current assets – $2.2 million
- Total current liabilities – $1.9 million
- Revenues – $693 thousand
- Net income for the six months reported – $379
The fact that the company is actually managing to make ends meet is a rather impressive achievement, by the standards of the OTC Markets’ pinksheets tier. Further, it’s amazing how the company hasn’t issued a single share of common stock between November 7, 2014 and August 1, 2015. The number has remained a rock solid 328,405,857 throughout that period.
Although, to be fair, what note-holder would really want to convert the debt owed to him into illiquid stock that barely traded a couple of hundred dollars worth of shares per day?
Now that BLGA is no longer illiquid this state of development has been turned on its head. Which is why, with trading being as hectic as it is, we may well end up seeing that 17 million vested common stock options and the 42 million warrants that were outstanding that as of June 30, 2015 start getting turned into common stock and dumped onto the market. This is especially likely if it turns out that the ticker is being pumped by more than just The Wolf.
Just one look at the BLGA‘s chart should be enough of a tip-off that investors should be extra careful – but the warning bears repeating nonetheless – let the buyer be ware.
