Endonovo Therapeutics Inc. (OTCMKTS:ENDV) Explodes Into Motion
Endonovo Therapeutics Inc. (OTCMKTS:ENDV) added an astounding 336.36% to its market value on heavy volume yesterday.
Well, perhaps calling a daily dollar volume of less than $300 thousand is a bit of an exaggeration. Still, that sum is astronomical by the standards of ENDV, whose stock was almost illiquid until the start of yesterday’s trading session. And, suffice it to say, that there was a pretty good reason for the ticker being stuck in obscurity for the last quarter.
Put simply – the company looks idle. Its financials for Q3 2015 are, well… see for yourselves:
- Cash – $27 thousand
- Total current assets – $30 thousand
- Total current liabilities – $5.8 million
- Revenues – NEGATIVE $400
- Net loss – $1.2 million
These numbers sort of speak for themselves. The negative revenues do so especially loudly and clearly. With such financials, it is no wonder that even paid pumps fail to make the stock appealing any more.
And, unfortunately, the horrible financials aren’t even the company’s biggest fault – dilution is. A quick check determines that:
- As of November 14, 2014 ENDV had 76 million shares outstanding
- As of November 20, 2015 ENDV had 103 million shares outstanding
What’s even sadder is the fact that all of the stock was issued as a result of conversions of toxic debt with discount provisions ranging from 40% to 53%.
Long story short – ENDV may not be illiquid currently, but investors should really think twice about committing to its stock.
