Emaji Inc. (OTCMKTS:EMJI) Explodes onto the Scene
Emaji Inc (OTCMKTS:EMJI) has never really been the hottest penny stock around. As you can see from the chart on the right, it hasn’t been the best performer either. Despite this, it went through some intense trading over the last couple of sessions.
On Monday, it jumped up by a respectable 75% while shifting more than 500 million shares. It faltered on Tuesday and dropped by 28%, but it managed to recover nicely yesterday. In fact, EMJI gained a whopping 166% and registered a dollar volume of nearly $890 thousand. Currently, it stands at $0.004 per share which, according to the OTC Markets profile, results in a market cap of around $44 million.
Certainly, the chart movement is impressive, but will EMJI manage to sustain the pressure at these levels?
Unfortunately, nobody can really give us a definitive answer to that question. The remarkable performance from the last couple of days doesn’t seem to be caused by anything immediately obvious. In fact, the latest press release hit the wire more than two weeks ago, there’s been no official filings since November and there isn’t even a paid promotion running for EMJI at the moment.
We tried to dig up something that could have potentially given the stock a boost, but the only thing we could find is some rumors around message boards. Lots of people claim that the company is about to make a major announcement in the coming days, but, as of right now, there’s nothing definitive.
All in all, EMJI is a highly speculative play at the moment and this, in turn, makes it extremely risky.
One thing is for sure – the latest financial report isn’t really substantial enough to justify the current market cap. The Q3 statement was published on November 14 and the balance sheet sports the following figures:
- current assets: $836
- current liabilities: $3.8 million
- quarterly revenue: $11 thousand
- quarterly net loss: $25 thousand
The report also tells us that the company is headed by a person called Robert P. Atwell and you should probably bear in mind that he has something of a history with penny stock enterprises.
The same person is also listed as the CEO of Sky440 Inc (OTCMKTS:SKYF) – a $0.0002 per share enterprise that hasn’t published any financial reports since 2009. Mr. Atwell was once at the helm of another small cap venture called Camelot Entertainment (CMGR). As you can see from this link, he had some legal problems while he was there. Filing the company’s financial reports on time didn’t appear to be a priority and, at one point, the SEC got fed up with CMGR. The stock was revoked on August 8, 2013.
Making a decision based on speculations alone is never a good call. If you still think that EMJI is a good prospect, you should probably bear in mind that the only thing that could support the stock, apart from the rumors, is a few optimistic and outdated press releases. It’s up to you to decide whether they’re substantial enough.
