Blue Calypso Inc. (OTCMKTS:BCYP)’s Stumble Continues
Blue Calypso Inc. (OTCMKTS:BCYP) had been falling hard ever since it held its held its 2016 conference call, and its 10-Q for the first quarter of 2015 did almost nothing but add to the ticker’s downward momentum.
The reasons for the crash should be obvious for anyone who’s done even a smidgen of due diligence on BCYP – the company isn’t doing too well. That much was pretty much obvious from the information we were given when its earnings announcement hit the web. The actual filing of its financial report did nothing to improve the rather depressing picture investors already had of its affairs:
- Cash – $212 thousand
- Total current assets – $647 thousand
- Total current liabilities – $247 thousand
- Revenue – $263 thousand
- Net loss – $884 thousand
The good news is that the company seems to have gotten rid of all of its convertible debt, and that its revenues have doubled year over year. While that is commendable, BCYP still seems quite far from becoming profitable, or even breaking even. Additionally, its total shares outstanding have grown with more than 1 million since its last report two months ago, when it had about 6 million.
It is little wonder, then, that the company’s efforts at damage control have been largely ineffectual. No amount of boasting could alleviate the company’s current predicament.
Which is why it wouldn’t be surprising at all if BCYP continued its slide down until it dropped to well below the dollar mark. Will it stop at a quarter, or even a dime? Only time will tell.
