Dibz International Inc (OTCMKTS:DIBZ) Flattened Painfully

What is yet another pink sheet marijuana up-and-comer, headquartered in a house by a dirt road in Alabama, which has five hundred dollars to its name and crashed 80% in Friday’s session? The answer to that would be Dibz International Inc (OTCMKTS:DIBZ).

DIBZ is not a particularly liquid stock. As a matter of fact, over the past month it registered a total of six sessions with any share volume at all. The last four times DIBZ traded in any volume, it dropped in double digits. Friday was one of those four sessions and that smacked the price 80% down the charts on heavy volume.

The reason for the unusually high trading volume was a volley of stray pump emails. Third party Micro Advantage LLC paid a number of promoters $25 thousand to advertise DIBZ and explain investors how much excitement was building around the ticker. If any of those who received the pump emails bothered to take a quick look at the stock’s chart, volume and movement, they would have figured out if there’s anything surrounding DIBZ it’s the sound of crickets chirping and not excitement.

Obviously, the pumps created sufficient interest for the 2.6 million shares to get dumped in the hands of hopeful investors, while DIBZ crashed horribly right out of the gate.

The company’s latest report was uploaded on May 22 still lists a small residential house near a dirt road in Alabama as its corporate headquarters. The same report reveals that DIBZ had all of $528 in the bank, comprising total current assets. With $2 thousand in revenue and a net loss of $56 thousand for the quarter, things don’t exactly look stellar.

DIBZ‘s website is largely a placeholder with links to a number of marijuana-related domains that contain just a background image and a logo.

Hopefully, next time an unsubstantiated, paid advertisement for a random illiquid pink sheet stock lands in people’s inboxes, they would take the time to do at least a tiny bit of research before jumping in headfirst.