GNCC Capital, Inc. (OTCMKTS:GNCP) Continues to Fall
The stock of GNCC Capital, Inc. (OTCMKTS:GNCP) isn’t doing very good lately. After it managed to go up into the double zeros it quickly slid back and continues to lose ground on high volumes of traded stock.
The company has made some attempts to boost the confidence in their stock with a few press releases lately, but it seems that it’s not working out well. It wouldn’t be a bad idea if they file a financial report, but we guess that they don’t really wan’t to do so, because it will be grim.
The latest numbers we have are from their annual report for the period ended September 30, 2012 and they don’t look good.
- cash: $0
- total assets: $369 thousand
- current liabilities: $69 thousand
- total liabilities: $19.5 million
- revenues: $0
- net loss: $1.3 million
Considering the fact that they haven’t mined anything yet, we think that the current financial situation in the company is dire. There are also no news about any financing and it couldn’t be any other way. In the end of the day, who would wan’t to finance a company that has nearly $20 million in debt and is far off from producing any revenues.
The update we got yesterday didn’t manage to provide the really needed information and GNCP registered another session in the red with a 16.67% loss. As the stock moved from $0.0006 to $0.0005 we saw more than 406 million shares switching hands that generated $190 thousand in dollar volume.
We don’t imagine how the company will manage to pick itself up from the ground judging by their current state. This is the exact reason for which we would advise you to do your due diligence and decide if it’s worth the risks to invest in GNCP.
Makism 3D Corp. (OTCBB:MDDD) also failed to impress yesterday and dropped a hefty 40% in value on high volume. Formcap Corp. (OTCMKTS:FRMC) on the other hand had a good session in which their stock gained 15%.
