Independence Energy Corp. (OTCMKTS:IDNG) Can’t Find Its Direction

[[tagnumber 0]][[tagnumber 1]]Ever since Independence Energy Corp. (OTCMKTS:IDNG) exploded back on October 13 it has had a hard time keeping its positions. The ticker has been constantly going up and down, while in the meantime attracting investor attention.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is not a surprise considering that the upward movement was hype–induced and struck all ebola related companies and there weren’t any press releases for months. Since then, however, [[tagnumber 6]]IDNG [[tagnumber 7]]made an announcement that they have placed an initial order for 3000 units of the [[tagnumber 6]]Thermofinder FS–700PRO[[tagnumber 7]] non–contact thermometer.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the numbers contained in the balance sheet of [[tagnumber 6]]IDNG [[tagnumber 7]]aren’t encouraging. In fact, the report for the second quarter of the year is horrifying.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 19]] [[tagnumber 20]]cash: $2,161[[tagnumber 21]] [[tagnumber 20]]current assets: $58,806[[tagnumber 21]] [[tagnumber 20]]total assets: $379,237[[tagnumber 21]] [[tagnumber 20]]total liabilities: $288,148[[tagnumber 21]] [[tagnumber 20]]quarterly revenues: $0[[tagnumber 21]] [[tagnumber 20]]quarterly net loss: $220,188[[tagnumber 21]] [[tagnumber 32]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This certainly don’t look like the numbers you would want to see in a balance sheet of a company that you will be putting your hard earned money in. And yet, [[tagnumber 6]]IDNG [[tagnumber 7]]does have a small market cap compared to other bloated stocks in the OTC markets, which sits at $1.76 million.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that [[tagnumber 6]]IDNG [[tagnumber 7]]have borrowed $15 thousand from a couple of their shareholders in the Subsequent Events section of the report, but that still doesn’t make the financial situation any better and can’t change the fact that the company stock’s latest movements were all based on speculation.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This week started rather well for [[tagnumber 6]]IDNG [[tagnumber 7]]as the ticker gained 25%, but the direction quickly changed and the company stock lost 9.33% in yesterday’s session. The volume was also quite small and the daily trade value was a mere $50 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Given all this and the red flags listed in our previous articles it would be a wise choice to do your due diligence and weigh out the risks before making any investment decisions.[[tagnumber 2]]