Electronic Cigarettes Intl Group Ltd. (OTCMKTS:ECIG) Crashes Even Further
As we mentioned before, Electronic Cigarettes Intl Group Ltd. (OTCMKTS:ECIG) seems to be doing just fine, as far as financials and commercial success are concerned. Only when when it comes to stock prices does the situation start to look tragic.
A look at the company’s latest financial report reveals some pretty encouraging figures:
- cash – $4.3 million
- total current assets – $28.8 million
- total current liabilities – $68 million
- quarterly revenues – $15.9 million
- quarterly net income – $41.1 million
True, $38.6 million of the net income was made on advisory agreement warrants, but even if you leave that part out, ECIG is still a stable, operating entity making a hefty profit, which couldn’t really be said for most companies on the OTC Markets.
Looking at the financial side of things a plan for up-listing on the NASDAQ might not have been too far fetched, until it got delayed twice.
That move, among with the company’s stony silence on the matter, pretty much destroyed ECIG’s credibility to investors and drove stock prices to the ground. Currently ECIG’s supporters are hyping about the stock’s eventual return and seem to be overly enthusiastic about the opportunity to stock up on almost-NASDAQ grade shares dirt-cheap.
Which is one way to look at things, but unfortunately for said investors, the current state of developments does not bode well for ECIG’s market cap. All things considered, if the situation doesn’t change soon, the ticker’s descent may last for quite a while more.
