Resort Savers Inc (OTCMKTS:RSSV) Gets a Volume Pop

In yesterday’s session Resort Savers Inc (OTCMKTS:RSSV) shifted its largest share volume for the past three months, at 222 thousand shares traded. The price action was not as heated, with RSSV slipping 14% down to a close at $0.60 per share.

First things first – RSSV is an entity headquartered in and operated out of the Republic of China – something that many investors will want to know right off the bat. According to its own business description RSSV is a development holding company that operates through targeted acquisitions of profitable businesses. This sounds particularly impressive when worded like that. The latest quarterly report available paints a somewhat different picture. Here is the brief summary of RSSV‘s balance sheet as of Jul 2015:

• $1 thousand in cash, comprising total current assets
• $12 thousand in total liabilities
• ZERO revenues since inception
• $27 thousand in quarterly net loss

Those dismal numbers are not made to look any better by other bits and bobs of information in the report, such as the company having no employees as of the report’s date.

The company also managed to dilute its common stock by 74% between November 2014 and September 2015, going from 38.4 all the way up to 67.1 million outstanding common shares.

RSSV stopped a red streak on the charts by releasing news about a letter of intent for the acquisition of a Chinese oil company, allegedly generating over $100 million in annual revenues. Of course, the deal is not finalized and the letter of intent is non-binding. And of course, the PR never explains how RSSV intends to pay for the acquisition.

The excitement generated by the news was enough for a single green day on Monday, then RSSV went back to sliding faster down the chart.