OBJ Enterprises, Inc. (OTC:OBJE) Bounces Off The Bottom
When Obscene Jeans Corp. decided to abandon their ideas of creating a women’s line of jeans and jump right into the social media sector we had our doubts. But now under the name of OBJ Enterprises, Inc (OTC:OBJE) they are starting to show some results. Even the market trend has began reversing with their stock closing in the green for several session and yesterday they surged another 65% to close at $0.66.
OBJE have been quite prolific issuing a new press release every couple of days. As you can expect, most of them just repeat the same vague statements about the social gaming development industry. Not that much valuable information potential investors can rely on. Having concentrated all of their efforts on the PR campaign seems to have left OBJE with no strength to file a new financial report. The latest one, for the period ending November 30, 2012, contains the following:
- $3731 cash
- $3731 total assets
- $512 thousand total liabilities
- $172 thousand net loss
- no revenues since inception
Well, with those numbers to show for themselves it is hardly a surprise that their stock has been sliding downwards for more than 3 moths.
What finally gave them a breath of fresh air was the announcement of the submission of their debut gaming title, Phantasmic, to the Apple’s App Store this week. Not that it has been approved, just that it has been submitted. The only advice we can give you is to wait for Apple’s answer on the submitted game as a possible rejection can adversely affect the stock.
