Leo Motors Inc. (OTCMKTS:LEOM) Spikes On Heavy Volume
Leo Motors Inc. (OTCMKTS:LEOM) made another impressive 13.56% jump yesterday as trading of the company’s stock intensified to record levels.
LEOM hadn’t seen as much activity as it witnessed yesterday in the last ten months or so. True, the ticker has been headed up ever since the company published its latest 10-Q, but yesterday brought a real massed push by the standards of the stock.
Which is an odd turn of events to say the least, because as far as due diligence is concerned, there is no discernible reason for the sudden burst of investor attention and favor.
Then again, this is not the only odd turn of events in LEOM‘s recent history. By all accounts, the company’s latest financial report doesn’t show anything impressive enough to push the ticker up in double digits for seven sessions in a row:
- Cash and cash equivalents – $466 thousand
- Total Current Assets – $2.2 million
- Total Current Liabilities – $4.5 million
- Quarterly Revenues – $42 thousand
- Quarterly Net loss – $595 thousand
Further, the company’s dilution statistics don’t really present LEOM in a favorable light at all either:
The number of shares outstanding as of April 30, 2014 was 80 million
The number of shares outstanding as of April 30, 2015 was 157 million
And as we’ve mentioned before, much of this flood of dilution came from toxic conversions.
This odd turn of events is why dedicated investors and opportunistic traders alike should really not let their guard down, and think carefully about all the risks before jumping on to the LEOM hype train.
