Global Links Corp. (OTCMKTS:GLCO) Gathering Upward Momentum
Global Links Corp. (OTCMKTS:GLCO) is one of the companies whose stock is benefitting from the hype surrounding the medical marijuana sector, since it announced that it is entering the sector.
The ticker was barely attracting any interest after the last spikes in the middle of last year and began sliding down the charts. The apparent lack of news was the probably reason for the bad period as the company’s last press release before announcing that it was entering the medical marijuana industry in the end of January was from August 1, 2013.
Since then, then PR team has been working strong in generating investor value. Some of the latest news from the end of last month managed to trigger an upward movement of GLCO after the company announced they are cancelling 150 million of their shares, looking to future acquisitions.
Looking at their financial statement, covering the period ended September 30, 2013, the only way to do that will be by issuance of stock.
- cash: $200
- liabilities: $3 million
- revenues: $0
- net loss: $56 thousand
It begins to bother us looking at a company that has $200 in the bank, makes no reveues and its inception dates back to 1952. One would surely expect some more impressive numbers from a company formed 61 years ago, but yet GLCO keeps changing courses to different sectors that seem attractive to investors, while seemingly doing nothing.
Still, that didn’t stop the company stock from making a great run, gaining 162% since the cancellation news. Looking at the company financials, however, the $45 million market cap of GLCO seems a bit steep, but isn’t unusual for a company that has entered the medical marijuana industry.
GLCO are still trying to keep the hype going, probably by looking how other companies in the sectors have fared recently and announced a new website with a monthly subscription used for connecting businesses in the industry.
Considering the $55 thousand promotional campaign from the end of last month, however, we would advise you to be be sure to do your due diligence and weigh out the risks, before making any bets with GLCO.
Hemp, Inc. (OTCMKTS:HEMP) on the other hand has had 3 sessions in a row ending in the red recently, but commands great dollar volume. The situation with Medical Marijuana, Inc. (OTCMKTS:MJNA) is quite similar.
