Is Endonovo Therapeutics Inc. (OTCMKTS:ENDV) Going To Go Down?
Endonovo Therapeutics Inc. (OTCMKTS:ENDV) had another impressive session yesterday, with a percentile gain to its market cap of 66.67% on a dollar volume of more than $840 thousand, but now it looks hesitant. Could this be the beginning of a crash?
Naturally, there is no way to be absolutely sure where a volatile OTC Markets ticker could go next. There isn’t really much of a precedent with this company either, since this is the most trading it has seen since its inception. However, there currently are a couple of pretty obvious details hinting at the possibility that ENDV‘s upward run could be rather short lived.
One of those details is the fact that the company doesn’t seem to have anything going for it. Its financials for Q3 2015 can be called mediocre at the very best:
- Cash – $27 thousand
- Total current assets – $30 thousand
- Total current liabilities – $5.8 million
- Revenues – NEGATIVE $400
- Net loss – $1.2 million
Even on the OTC markets pinksheets section, very few companies can claim that they have NEGATIVE revenues – so that’s an achievement in an of itself.
Not a positive one to be sure, but a bit of digging reveals the fact that there’s scant little positive to be found about ENDV to begin with.
Its share structure is a hot stinking mess, as well. More than a quarter of its current shares outstanding have come into existence as a result of conversions of toxic debt at discounts varying between 40% and 53% over the course of the last year or so.
With this in mind, would it really be surprising to see ENDV crash and fade to obscurity once more?
