Dominovas Energy Corp (OTCMKTS:DNRG) Climbing Higher

[[tagnumber 0]][[tagnumber 1]]Until just a few months ago the stock of Dominovas Energy Corp (OTCMKTS:DNRG) was virtually non–traded. Suddenly, as June came we saw the ticker sway heavily in both directions and the daily volumes increased slightly.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]By the end of June an overly optimistic press release that announced a “historic partnership with U.S. Government” managed to push the ticker into the right direction and [[tagnumber 6]]DNRG[[tagnumber 7]] exploded, gaining a whopping 1300% in a single session and going from being traded into the double zeros, to prices above 1 cent.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The next day the company stock passed the 20 cent per share stock with another impressive 189% gain, but the excitement quickly subsided and the ticker fell down while the volumes decreased once again. The end of July and the beginning of this month saw [[tagnumber 6]]DNRG[[tagnumber 7]] hovering around the $0.075 per share mark, but some optimistic PR is still capable of carrying the stock higher, despite the fact that the company’s financials for the quarterly period ended May 31, 2015 didn’t look that good.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $8,983[[tagnumber 19]] [[tagnumber 18]]current assets: $24,393[[tagnumber 19]] [[tagnumber 18]]current liabilities: $1.37 million[[tagnumber 19]] [[tagnumber 18]]revenues: ZERO[[tagnumber 19]] [[tagnumber 18]]net loss: $614,031[[tagnumber 19]] [[tagnumber 28]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Certainly doesn’t look good, even by OTC standards. The fact that $427 thousand of the current liabilities is in the form of convertible debt is also not very promising. Meanwhile, the company has announced that it has established relationships with financing partners, but there is no concrete information about any deals.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the fluff PR and the touting by Quality Stocks who are employed by [[tagnumber 6]]DNRG[[tagnumber 7]] in order to promote the ticker seem to be working pretty fine. We saw the company stock add another 24.31% in Friday’s session and finish at $0.1125 while a total of 4.88 million shares were traded and generated $497 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today has also started very well for [[tagnumber 6]]DNRG[[tagnumber 7]] without any further effort and we see that the ticker is 31.11% up as of the writing of this article. Still, this doesn’t mean that you should skip on doing your own due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]