Dephasium Corp. (OTCMKTS:DPHS) Shuffles Up, Pumps Follow
Yesterday a number of stock promoters sent emails touting Dephasium Corp. (OTCMKTS:DPHS). The excitement was triggered by a press release issued Friday that saw traders suddenly hop on board DPHS and send its daily volume many times above its near-idle average.
Until very recently DPHS was Pay Mobile, Inc. – a shell company with no revenues generated and insignificant assets. In early March a reverse merger took place, with Dephasium Ltd., a European enterprise, transferring a patent to the company against 70 million DPHS shares issued. Additionally, DPHS agreed to ‘redeem’ 50 million shares issued to its now-former director, Irma Colon-Alonso.
According to its latest quarterly report dated March 31 of this year, DPHS was in a financial state that was only marginally better than back when it was a shell:
- $50 thousand in cash
- $9 thousand in total Q1 expenses, amounting to total net loss
- no revenues
Additionally, the $50 thousand came from the issuance of 200,000 common shares that took place in February this year, a month before the merger, when the company was not actively traded. The jump in price from Friday was likely caused by the PR that DPHS retained DesignIRFirm as their new investor relations and advisor party. Why this is cause for excitement is not too clear, as DesignIRFirm have worked with other obvious pump-job enterprises before. The Clients section of DesignIR’s site contains information on their joint work with Cuba Beverage Company (OTCMKTS:CUBV), a jaded pump job that suffered several attempts at resurrection before ultimately crawling along to reach its current price of $0.03 per share. The chart on the right shows how well CUBV fared after each stock pump.
Considering the fact that DPHS is being pumped, has some rather limited financial options given its current assets, as well as the fact that the cell phone protective case has supposedly been in development for about six years by the European enterprise that merged into Pay Mobile and there are still no marketable results, traders may want to think carefully before investing in the company.
