OriginClear Inc (OTCMKTS:OOIL) Crashes On Hefty Volume

[[tagnumber 0]][[tagnumber 1]]The stock of OriginClear Inc (OTCMKTS:OOIL) isn’t known for recording big volumes. This is why yesterday’s 2.45 million traded shares looked like quite a lot, but managed to generate only $86 thousand in daily dollar volume as the ticker fell 11.50% down and closed at $0.0311.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The overall stock performance has been quite terrible and there are plenty of reasons for this. One of the, is certainly the fact that [[tagnumber 6]]OOIL[[tagnumber 7]] doesn’t shy away from paying promoters to pump the stock with company money. In the meantime, the numbers contained in the financial reports are far from flattering. Here is a quick example of the contents of the report covering the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $180 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $389 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $8.9 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $88 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1.77 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It is also worth to note that [[tagnumber 6]]OOIL[[tagnumber 7]] has a history of diluting its common stock through conversions of promissory notes. What is more important, $3.87 million of the $8.9 million in current liabilities recorded during the second quarter of the year were in the form of such notes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, the promotional emails haven’t stopped coming in. The latest one came in October 2 and listed a $5500 compensation. Unfortunately for those who paid for it, it didn’t work and yesterday the company filed another 8–K, informing the investor community of further issuance, this time of preferred stock.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It is clear that [[tagnumber 6]]OOIL’s[[tagnumber 7]] dilution is far from over, but we see the ticker a bit more stable today. It might even close in the green, however, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]