PMX Communities Inc. (OTC:PMXO) Have a Maverick Idea
Vending machines. The idea is pretty simple – you are walking around, you feel thirsty or need a quick snack, you go to the machine, put some coins in, the soda can or the packet of chips get stuck inside and you either punch the living daylights out of it or you walk away with a few dollars less in your pocket. These contraptions have been around for ages and, so far, the people who run them haven’t thought about putting anything truly valuable for sale inside. Until PMX Communities Inc. (OTC:PMXO) came along.
The scenario is similar, but there are a couple of differences. You are still walking around when you suddenly feel the desperate need to buy a bar of gold so you go to PMXO‘s machine, you swipe your credit card and a few seconds later you pick up a genuine piece of 24-karat gold from the opening on the bottom. We are not sure if we are ready to shed hundreds of dollars through what looks like nothing more than a candy machine with a touch screen, but it would appear that PMXO are quite convinced that they are on the right track with it. Surprisingly, they even have the filings to prove it.
In December they installed their first in-house developed gold terminal in a shopping mall in Florida however, back in 2010 they were in a partnership with a German company and the two ventures ran a trial period for a similar machine developed in Europe. After the trial was over, PMXO decided that they can produce the hardware themselves but, more importantly, the testing revealed that the invention does have some potential. We dug deep into their old filings and we saw that in just a couple of months, the old machine generated around $150 thousand in revenues. Now, with the new one in place, they say that they have already registered sales worth $270 thousand since December. Unfortunately, they are not able to prove it through a financial statement yet.
PMXO recently published a notification of late filing with the SEC and the latest 10-Q was put together before the gold terminal was installed which means that we can’t be sure how they are getting along right now. As for the third quarter of 2012, things weren’t looking too bright:
- cash: $12 thousand
- current assets: $24 thousand
- current liabilities: $702 thousand
- no quarterly revenue
- quarterly net loss: $255 thousand
Even if they did manage to generate the hundreds of thousands of dollars that they talk about, we’re quite sure that the shareholders are still eager to see the details of the newer report since, when the trial was ran back in 2010, they did generate some sales, but there was also quite a lot of losses – $165 thousand for three months, to be more precise. All in all, if PMXO want to attract more investors, they need to hurry up with the new report.
We’ll make sure that we check regularly for its appearance, but until then we have one major concern about PMXO – the promotions running for them. Yesterday, we received an email from Penny Stock G, but that’s not the first time that they are featured in a pump. The previous one took place back in December just a couple of weeks before the official unveiling of the gold terminal in Boca Raton. Investors Hub through their affiliated newsletter, Wall Street Profit Search were responsible for the promotion but, unfortunately, the result was pretty disappointing – a 47% loss in a single day.
The track history of today’s pumpers is also a cause for concern. Penny Stock G have taken part in quite a lot of disappointing promotions and one of them was for COREwafer Industries Inc (PINK:WAFR). Just like the current campaign for PMXO, they were relying on some positive news but, unfortunately, it all went south and WAFR lost nearly a third of their value the following day which left a lot of grumpy investors behind.
