Brazil Minerals Inc (OTCMKTS:BMIX) Shows Little Confidence

[[tagnumber 0]][[tagnumber 1]]The downward slide of Brazil Minerals Inc (OTCMKTS:BMIX) which was driving the stock closer and closer to the bottom of the charts suddenly changed directions and we saw the ticker gain an impressive 66.67% in Monday’s session and closing at $0.0005 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Tuesday went a bit slower and [[tagnumber 6]]BMIX[[tagnumber 7]] moved nowhere after briefly sitting at $0.00072 in the beginning of the session. This was not surprising even though the company’s market cap is one of the smallest in pennyland. In fact, [[tagnumber 6]]BMIX[[tagnumber 7]] really has very little to support positive movements.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $23 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $521 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $2.59 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $11 thousand[[tagnumber 15]] [[tagnumber 14]]loss from operations: $222 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These truly desperate numbers clearly show why [[tagnumber 6]]BMIX[[tagnumber 7]] is in such a state. Furthermore, the situation hasn’t changed much for quite some time. This is probably why the company stock couldn’t even handle the price of $0.0005 and came crashing down yesterday, losing 40% of its value and closing at $0.0003.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This all happened despite the press release that the company issued concerning the progress in the elimination of convertible debt from short–term noteholders. So far we see that [[tagnumber 6]]BMIX[[tagnumber 7]] hasn’t moved in today’s trading which is not surprising. After all, the road down has only a few more steps while shareholders don’t seem to be too enthused to pay more than the current price for a piece of the cake.[[tagnumber 2]]