Global Equity International Inc. (OTCBB:GEQU)’s Crash Continues
Global Equity International Inc. (OTCBB:GEQU) had a brief respite from its slide on Friday, but come the new week, its crash continued with renewed vigor.
Friday’s reversal of fortune was made possible by the announcement that one of the company’s clients has signed a big contract with the US government. However, once the press release is read carefully, it should become pretty obvious why the news didn’t manage to keep the ticker afloat for very long – it has very little to do with GEQU.
In light of this, the fact that it managed to halt the ticker’s slide even momentarily seems like something of a miracle in and of itself. However, as we well know, miracles don’t last, especially if your balance sheets look as pitiful as this:
- cash – $734 NUMBER NOT IN THOUSANDS
- current assets – $52 thousand
- current liabilities – $3.9 million
- quarterly revenues – $1.1 million
- quarterly net income – $373 thousand
Furthermore, anyone who’s done due diligence on GEQU knows full well that weak financials are the very least of the company’s problems. If anything, GEQU‘s share structure is even more horrendous than its lack of resources.
Suffice it to say that 448 MILLION out of the 482 MILLION shares that GEQU had outstanding as of August 2015 have been issued after November 2014. In July 2015 alone, the company has issued millions of shares at rates ranging from $0.00045 and $0.0007.
And the worst part is, there is no real way to know how much more discounted stock could be dumped on the market at any given time. It may very well be that yesterday’s crash was caused by dumping of discounted shares on the market.
Investors should definitely consider that possibility, as well as all the other red flags, when making up their minds about GEQU.
