Pleasant Kids Inc (OTCMKTS:PLKD) Moves Up Again

[[tagnumber 0]][[tagnumber 1]]After a rather disappointing run in September we saw the stock of Pleasant Kids Inc (OTCMKTS:PLKD) suddenly begin to climb the charts this month for no apparent reason. As the price swiftly gained altitude, we also saw and impressive increase in daily dollar volumes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The strange thing is that this was happening while there were no press releases, nor paid promotions. The ticker seemed to be going on its own. The fact that it managed to run up so long becomes even stranger when you look at the company’s balance sheet. Back in the end of the second quarter [[tagnumber 6]]PLKD[[tagnumber 7]] had this to show.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: ZERO[[tagnumber 13]] [[tagnumber 12]]current assets: $27 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $778 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $724[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $31 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Apart from this there are some other things that you should be aware when dealing with [[tagnumber 6]]PLKD.[[tagnumber 7]] As we previously wrote, the company performed a 1 for 500 split in July this year in order to reduce its massive 7.3 billion outstanding shares to just $14.6 million.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There are no indications of any more printing of shares since then, but the fact is that [[tagnumber 6]]PLKD[[tagnumber 7]] hasn’t seen a need to reduce their authorized share count. Later, we saw a reverse merger that was carried out through a share exchange agreement with Next Group Holdings. This happened in August, but we still haven’t seen the consolidated balance sheet of the newly formed entity.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The latest news from the company came on Wednesday. It announced that NEXT Mobile 360 was going to have a kiosk at the Florida International University campus. This didn’t manage to excite investors further and we saw [[tagnumber 6]]PLKD[[tagnumber 7]] slip 5.56% in that session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday, however, [[tagnumber 6]]PLKD[[tagnumber 7]] returned to its upward run. The ticker added 11.76% to its value and closed with a price of $0.095. A total of 768 thousand traded shares generated $72 thousand in daily dollar volume, an indicator that the buying pressure has gotten lower.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This might help the stock gain even more altitude, but how high can it get? This is for time to tell. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]