Grow Condos Inc (OTCMKTS:GRWC) Losing More Altitude

[[tagnumber 0]][[tagnumber 1]]Grow Condos Inc (OTCMKTS:GRWC)’stock saw barely any trading for quite some time. Most of the sessions it used to record zero trades and it didn’t seem like investors had any interest in the ticker at all. That, however, changed last month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Back on April 5 [[tagnumber 6]]GRWC[[tagnumber 7]] announced a $5 million investment agreement with Tangiers Global LLC, a well–known toxic debt provider. Instead of being a red sign right away we saw that investors got hyped by the news, despite the horrible dilution that [[tagnumber 6]]GRWC[[tagnumber 7]] has suffered previously and the unappealing numbers contained in the company’s latest 10–Q.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $3 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $21 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $226 thousand[[tagnumber 15]] [[tagnumber 14]]revenues: $23 thousand[[tagnumber 15]] [[tagnumber 14]]net loss: $135 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Apart from these horrible numbers we can’t fail to mention the massive market cap that still sits above $50 million. That, however, didn’t bother investors and we saw [[tagnumber 6]]GRWC[[tagnumber 7]] go well above the $2 per share mark in the beginning of this month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, it was certain that [[tagnumber 6]]GRWC[[tagnumber 7]] was going to correct sooner, rather than later. The ticker received its first blow in Wednesday’s session when it lost 8.50%. Yesterday we saw it drop another 14.29% in value and close at $1.80, while a total of 162 thousand traded shares generated $305 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]GRWC[[tagnumber 7]] is still dropping in today’s session as well and is already trading at $1.70 after reaching a low of $1.37 per share. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]