OBJ Enterprises, Inc. (OTCBB:OBJE) Loses Its Edge
The main drive behind OBJ Enterprises, Inc. (OTCBB:OBJE) stocks for a while has been the constant flood of self-promoting news articles. Now their most trusted method seems to be having no effect as yesterday they fell by nearly 20% to close at $0.61.
There is no point in retelling all of the announcements as all of them contain the same general information about the global mobile app market. The company still hasn’t received any answer from Apple about the submission of their first game and the android version of the same product is still being developed.
The lack of any substantial results for now has not stopped the company from undertaking another venture – the creation of an innovative new online development platform to assist independent game makers create, publish and market the next wave of addictive mobile applications. For now we have no idea what that even means so we will wait for the inevitable multitude of news about it.
It is curious how OBJE is going to realize all of its ambitious project when they are not in the best of condition when it comes to financial stability. They finished the first quarter of 2013 with the following results: • $13 thousand cash
• $277 thousand current liabilities
• $230 thousand net loss
• no revenues since inception
• $277 thousand current liabilities
• $230 thousand net loss
• no revenues since inception
These numbers aren’t exactly inspiring confidence in the ticker.
If you disregard all the artificial buzz created by the company itself there isn’t much to talk about. They have all the features of a penny stock company – insignificant revenues, large amount of debt and a lot of promises for the future. Before spending your hard earned savings remember that the inherent volatility of these stocks should not be taken lightly.
