OriginClear Inc (OTCMKTS:OOIL) Swaying Both Ways

[[tagnumber 0]][[tagnumber 1]]OriginClear Inc (OTCMKTS:OOIL) had a rough time sliding throughout September and October. The ticker tried to stabilize in the beginning of this month, but this was not an easy task when you consider all the red flags surrounding it.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As we previously wrote, [[tagnumber 6]]OOIL[[tagnumber 7]] has been a target for paid promoters for quite some time and the company isn’t even shy about paying them personally to promote the stock. Meanwhile, the numbers that we see in [[tagnumber 6]]OOIL’s[[tagnumber 7]] reports aren’t that good. Here is a quick example of the contents of their filing for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $180 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $389 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $8.9 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $88 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $1.77 million[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Definitely, not a very pleasing sight, especially when you dig just a little bit further. Looking at the liabilities section we see that $3.87 million out of the $8.9 million in current liabilities were in the form of promissory notes that can be converted and cause further dilution, a thing that [[tagnumber 6]]OOIL[[tagnumber 7]] isn’t a stranger to.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]More recently, however, we see that [[tagnumber 6]]OOIL[[tagnumber 7]] is coming out with positive press releases. After a decent 10.42% gain during yesterday’s trading that saw the ticker climb to $0.0249 per share the company announced that an independent audit of its subsidiary, Progressive Water Treatment has shown that the company has reported a little over $6 million in annual sales in 2014 and has finished with $813 thousand in net income.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The piece of news is also pushing the ticker in today’s session and we see that [[tagnumber 6]]OOIL[[tagnumber 7]] is currently 4.42% up the charts. Still, no one can know how things will turn out in the recent future, despite the positive news. Be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]