Drinks Americas Holdings, Ltd. (OTCMKTS:DKAM) On The Rise

Drinks Americas Holdings, Ltd. (OTCMKTS:DKAM) had managed to keep its November ascent throughout December 2013. It failed to register significant chart movement until the very first trading sessions of the new year, and has been on a steady ascent since then, making an impressive 42.31% jump just yesterday.

Apparently the company’s been busy this last month and a half – a quick glance reveals 12 press releases since the last time we looked at them. And every single publication is drawing the reader’s attention to the company’s self-proclaimed monumental marketing success – state-wide distribution, the company’s brand Day of the Dead Craft Beer being served at Taco Mac Sports Grills and numerous family restaurants, the same product being voted on 2013 Top Beers of the year.

What is distressing is the fact that said press releases seem to be the only available source of relatively current information on the company, since DAKM hasn’t filed a financial report since the one covering the period ended Jan. 31, 2013.

One of the more relevant bits of news DKAM has published is the first amendment agreement they entered into with IBC Funds LLC. It deals with the postponing of the maturity of certain 8% Convertible Unsecured Promissory Notes in the principal amount of $70,000, $150,000 and $200,000. Said maturity period was extended from May 1, 2013 to January 9, 2015.

The news came out on Jan. 15, when the company was already on the rise and only seemed to add to its upward momentum, helping DKAM close yesterday’s session at $0.0185.

The tactic of pumping out press release after press release does seem to suit their purposes, as it is doing wonders for the company’s market value. Without actual filings on the company’s commercial development, however, those press releases ring hollow and are meaninglessly repetitive.

Another company that’s currently on the rise Paid, Inc.(OTCMKTS:PAYD), who closed yesterday’s session at $0.25.