Mexus Gold US (OTCMKTS:MXSG) Comes Crashing Down
Mexus Gold US (OTCMKTS:MXSG) managed to climb another 36.78% in yesterday’s session, but is already crashing hard in today’s early trading.
This turn of event should not have been unexpected for our readers, as well as anyone who’s done due diligence on MXSG recently. As we mentioned the last time we covered the company, MXSG has very little going for it. True it managed to rise all the way to $0.06 on hype caused by its latest announcement, but as we all know, hype tends not to last. It can lift a ticker up, but when it inevitably dissipates, said ticker will inevitably be left to sink or swim depending on the actual merits of the company in question.
And, suffice it to say that MXSG‘s achievements to date fail to impress. Its latest financial report looked like this:
- Cash & current assets – $13 thousand
- Total current liabilities – $1 million
- Revenues – $87 thousand
- Net loss – $834 thousand
Additionally, there’s the fact that during 2015, MXSG issued $427 thousand worth of stock on top of the $40 thousand in cash it paid in order to settle just $286 thousand worth of convertible debt.
Investors are advised to take a careful look at the company’s latest financial report, as it is full of other, similarly disheartening red flags, any one of which could explain why the ticker is stumbling now.
Our advice is as always – be diligent and careful when committing to high risk stocks.
