OBJ Enterprises, Inc. (OTCBB:OBJE) Surges on Uninspiring PR
After months of self-promotion and a constant stream of PR informing investors about every detail surrounding the development of the company’s game products, OBJ Enterprises, Inc. (OTCBB:OBJE) may be close to launching a couple of games. Obviously yesterday’s press release was enough of an incentive for traders to send the price 63% up.
For a long while OBJE banged its drum and did not deliver much in the way of actual performance and products. The company surged after the very next bit of press hype hit the wire yesterday. OBJE announced the company had ‘immediate plans’ to increase its profit margins, as well as launch two new games in August.
The release claims that OBJE is trying to give its investors a share of the $10 billion mobile gaming market. It’s not too clear how exactly the company is going to do that considering the Games section of its website still has no titles listed and all that investors have to go by are heaps of optimistic PR and OBJE‘s underwhelming financials. The company listed the following figures as of its latest report dated May 2013:
- $76 thousand in cash
- $468 thousand in current liabilities
- ZERO revenues since inception
- $171 thousand in quarterly net loss
The company announced the submission of one of its games to both Google Play and the Apple App Store months ago, with no further news of approval. The company’s press releases keep quoting the huge success and revenue-generating power of those same platforms, yet the company has so far had zero success in putting a product on them, much less gaining any significant exposure, which is never guaranteed, even if a product does end up on, let’s say Google Play.
In closing, here is a video of a beta version of Creature Tavern, one of the new games OBJE is allegedly gearing to launch in mid-August. The video hardly warrants any further comments.
