Redux Holdings Inc (OTCMKTS:RDXH) Takes Another Hit

[[tagnumber 0]][[tagnumber 1]]Trading of Redux Holdings Inc (OTCMKTS:RDXH) was virtually non–existent and we often saw the ticker finish sessions without a single share of its common stock being traded. It had been moving below the 10 cent per share mark for quite some time and finally managed to attract some investor attention earlier this month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, things didn’t turn out well and we saw [[tagnumber 6]]RDXH[[tagnumber 7]] crash down the charts as daily volumes increased. This wasn’t such a big surprise, especially when you consider the numbers contained in the company’s financial reports. A quick look at the Q2 filing shows quite the disturbing picture.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: ZERO[[tagnumber 13]] [[tagnumber 12]]current assets: ZERO[[tagnumber 13]] [[tagnumber 12]]current liabilities: $30 thousand[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $20 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So many zero’s remind us of the scene from The Grand Budapest Hotel in which M. Gustave interviews the young Mr. Moustafa. Still, we doubt that [[tagnumber 6]]RDXH[[tagnumber 7]] will become as successful as the lobby boy in the movie. Especially when you consider the fact that the company stock has been under attack from paid promoters.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This was actually the reason for the increased trading that we see recently. Unfortunately, as trading of a company stock that has such weak fundamentals increases we usually see it drop in price. Yesterday we saw [[tagnumber 6]]RDXH[[tagnumber 7]] dive 21.54% down the charts and close at $0.51 while a total of 2 million traded shares generated $130 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker has slid well below the 50 cent mark as of the writing of this article and is currently sitting 19.61% lower from yesterday’s close at $0.41, despite the fact that it’s not traded as heavily. Doing your due diligence and weighing out the risks before putting any money on the line is absolutely crucial.[[tagnumber 2]]