Energizer Tennis Inc. (OTCBB:EZRT) Is Off To A Horrible Start
Yesterday, Energizer Tennis Inc. (OTCBB:EZRT) registered its first trading activity since its incorporation – and promptly crashed horribly.
In its recent PR, EZRT described itself as a “Nevada corporation with offices in London, England, announced today that the company has transformed its business model to an advanced international technology holdings company and established a second corporate office in Orange, California”.
Anyone reading that profusely wordy, yet ultimately – uninformative announcement would probably come to the conclusion that the company is an active entity that is presently giving its all trying to become profitable.
Unfortunately, any due diligence done on EZRT points in the opposite direction. Just look at the company’s financials for the quarter ended January 31, 2015:
- Cash & Total current assets – $44 (NUMBER NOT IN THOUSANDS)
- TOTAL ASSETS – $15 thousand
- Total Liabilities – $16 thousand
- NO REVENUES EVER
- Net loss – $45 thousand
According to its OTC Markets profile, the company has just one employee – Robert Thompson, who is both the CEO, CFO and the chairman of the BoD.
The address given for the company’s headquarters also looks like anything but.
The company’s OTC Markets profile also indicates that EZRT is currently valued at more than $13 million – an absurdly high number, if one could ever be called that.
Any and all of these red flags may well be the reason behind EZRT‘s downfall, but investors should also be wary of another detail. 3.4 MILLION shares changed hands in just 288 trades – which is in and of itself a suspicious turn of events, and should certainly be taken into account.
