Golden Edge Entertainment Inc (OTCMKTS:GDEE) Keeps Its Upward Momentum
tags: GDEE
The last time we wrote about Golden Edge Entertainment Inc (OTCMKTS:GDEE) was back nearly a year ago when the ticker soared and went above the $3 per share mark on massive volumes. Unfortunately, the company stock quickly lost the value that it gained and then some, going into obscurity.
The reason for the turn of events was really trivial. GDEE was a target of a $37 thousand promotion that worked its magic while it was on, turned nasty as soon as the emails stopped coming in. This is not surprising when you consider the fundamentals of the company. The latest report contained the following numbers in its balance sheet.
- total assets: $6,792
- total liabilities: $90,592
- quarterly revenue: ZERO
- quarterly net loss: $25,723
Those numbers look pretty terrifying, but weren’t the only red flag surrounding GDEE. As we wrote nearly a year ago the company had a lot of warrants that were exercisable at prices of just $0.05 per share, which is well below any lows that GDEE has reached in the past 52-weeks of trading.
On June 22 the company came out with an announcement that it’s launching a new subsidiary called Big Data Media. Although GDEE were trying to excite investors with forward-looking statements, anyone who has even the slightest knowledge of the massive competition in digital media streaming will know that the company’s chances are pretty small.
Despite that GDEE began climbing the charts with great momentum and on increased volumes. Wonder Penny Stocks pumped the ticker for a $8 thousand compensation on June 27 and GDEE made another optimistic press release yesterday, that managed to push the ticker a further 26.64% up the charts, for a close at 91 cents per share.
The company stock is still climbing today, but you should be sure to do your due diligence and weigh out all the risks before putting any money on the line, especially considering the consequences of the last pump and the horrible financial statement of GDEE.
