Golden Edge Entertainment Inc. (OTCMKTS:GDEE) Is Still Soaring
tags: GDEE
Golden Edge Entertainment Inc. (OTCMKTS:GDEE) was worth about $0.4 two weeks ago – and yesterday’s rabid climb almost took it above the $1.8 mark. What is up with that?
Although the ticker’s ascent began a couple of days before the event, it could be argued that it was a pump financed by the company itself that sparked GDEE‘s ascent to the top of the charts. Interestingly enough, ever since that tout hit the web, the ticker has only been gathering upward momentum. What’s disquieting about this situation is the fact that this state of developments has lasted for more than two weeks. Why?
Because while GDEE may boast about incorporating new subsidiaries and signing collaboration agreements, but said actions can only serve to improve the chances of a company to capitalize on a new market opportunity. Unfortunately, nothing in GDEE‘s financial reports suggests that it is ready to capitalize on the streaming market – or anything else, for that matter:
- Total Assets – $7 thousand
- Total liabilities – $90 thousand
- No Revenues
- Net loss – $25 thousand
Calling the company’s financial state “unimpressive” might just be the understatement of the year. The fact that it has next to nothing but debt to its name certainly doesn’t present GDEE in a favorable light. Then again, neither does the fact that a serious chunk of that debt is in the form of toxic debt that can be converted into shares of GDEE common stock at either a fixed price of $0.4, or at a 40% discount to the current market price.
So, at the end of the day, what do we have here? Boasts unbaked by actual achievements? Check. Paid pump? Check. Toxic convertibles? Check. Overall idleness and mediocrity? Double check.
With all of this in mind, it should be more than obvious why it is something of a miracle that GDEE hasn’t crashed and burned yet.
