Global Equity International Inc (OTCBB:GEQU) Gets Corrected
After a rather disappointing start of the year we saw the stock of Global Equity International Inc (OTCBB:GEQU) begin to climb the charts earlier this month. The ticker managed to record a total of eight consecutive sessions of closing in the green and it seemed like it was unstoppable.
After all, GEQU’s market cap wasn’t really that big, there were some pretty optimistic news and the latest financial report looked quite promising. Here is just a quick example of some of the numbers contained in the balance sheet for the first quarter of the year.
- cash: $56 thousand
- total assets: $3.26 million
- total liabilities: $2.23 million
- quarterly revenues: $843 thousand
- net income $487 thousand
A pennystock that is actually to record a net income in its balance sheet is something that you rarely see. Still, GEQU has a really small amount of cash on hand, which is never a good sign. The company, however, appears to be expanding rapidly. The $843 thousand in revenues mark a massive 5524% gain over the $15 thousand recorded in the same period in 2015.
GEQU only managed to climb to 3 cents per share on all this. The company’s market cap increased to a little over $20 million before the ticker corrected. We saw GEQU finish last week with a 10.99% loss, at $0.02662, while the 3.43 million shares that changed their owners generated $98 thousand in daily dollar volume.
Only time will tell if GEQU will be able to keep most of the value that it recently regained. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
