Nutech Energy Resources Inc. (OTCMKTS:NERG) Crashes Horribly
It took some time for investors to react to what they saw in Nutech Energy Resources Inc. (OTCMKTS:NERG)’s newest financial report, but now that they have, the ticker has been sent spiraling to the bottom of the charts.
Admittedly, the report came out on the same day on which NERG got exposure in the form of a new press release and the launch of its corporate web site. However, it is still very odd that a company that announced the following mediocre numbers can nearly double its market cap on the very next day:
- Cash & Total Assets – $0
- No revenues to date
- Total Current Liabilities – $4.9 MILLION
- Quarterly Net loss for Q2 2015 – $128 thousand
What’s confusing is the fact that the PR that pushed the ticker up the charts wasn’t even all that boastful. It just said that the company had a lot of work ahead of it and that it had launched a web site. Both of these things are true.
On the other hand, so is the fact that the company literally has nothing but debt to its name and looks like it has achieved nothing of importance to date since the day of its inception. The realization that this is the case is probably what has driven the ticker down the charts in these last few sessions.
Long story short – NERG looks idle and mediocre. Unless it gets launched up by a pump or another publicity stunt or something of the sort, it will probably continue to fall until it reaches triple zero illiquidity.
Let the buyer beware.
