How Long Can Valmie Resources Inc. (OTCBB:VMRI) Push Up?
Valmie Resources Inc. (OTCBB:VMRI) manged another 27% jump yesterday – which is extremely odd, if you keep all of the company’s horrific shortcomings in mind.
And when we say “horrific shortcomings”, we’re not exaggerating in the slightest. The company’s latest financial report looked like this:
- Cash and cash equivalents – $24 thousand
- Total Assets – $58 thousand
- Total Liabilities – $268
- No Revenues
- Quarterly net loss – $83 thousand
Those are hardly the numbers you’d expect from a company who currently has a market cap of $106 MILLION! The discrepancy between the numbers that the company’s OTC Markets page presents us with could not be more striking – and it only gets worse once you delve deeper in said page.
A bit of reading reveals that VMRI has sold approximately 3 million shares of its common stock at at a rate of $0.1 per share in the last two years or so. Just for comparison – that’s nearly TWENTY times lower than its current price per share. We’d imagine that the people who bought those shares could make a killing dumping them on the market right now.
Still, even the profit said lucky shareholders could make can’t hold a candle to what VMRI‘s earlier creditors could make if they sold their shares right now. Why?
Well, Suffice it to say that 59 million shares of VMRI‘s common stock were issued at a rate of 0.000169 per share a couple of years back.
Investors should take all of those facts into consideration when making up their mind about committing to VMRI stock, and act accordingly.
