Rocky Mountain High (OTCMKTS:RMHB) In Hot Water

[[tagnumber 0]][[tagnumber 1]]After a slide in the beginning of the year we saw the stock of Rocky Mountain High (OTCMKTS:RMHB) regain the lost value in the beginning of March, before settling down and sliding a bit further down the charts.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is not that surprising when you take the company valuation and the numbers that back it up. One might become pretty disappointed after taking a brief look at the balance sheet contained in the company’s latest report, covering the fourth quarter of last year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $100 thousand[[tagnumber 11]] [[tagnumber 10]]current assets: $2.5 million[[tagnumber 11]] [[tagnumber 10]]current liabilities: $2 million[[tagnumber 11]] [[tagnumber 10]]quarterly sales: $313 thousand[[tagnumber 11]] [[tagnumber 10]]loss from operations $385 thousand[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers certainly don’t look very well in the balance sheet of a company holding a market cap of around $30 million. Still, despite that we saw [[tagnumber 24]]RMHB[[tagnumber 25]] climb very rapidly recently, gaining some serious ground, while to daily volumes increased.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, the hype didn’t last that long and we saw [[tagnumber 24]]RMHB[[tagnumber 25]] lose 9.94% of its value in yesterday’s session, closing at $0.0634. The total amount of traded shares came at 8.26 million and managed to generate $567 thousand in daily dollar volume, but it looks like things are going to get a lot uglier pretty soon.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Earlier today it was announced that a civil litigation against [[tagnumber 24]]RMHB[[tagnumber 25]] has commenced, claiming its officers and directors made fraudulent misrepresentations, committed fraud by concealment of material facts and engaged in acts of conspiracy relevant to the interest of and detriment to third party purchaser of its shares and the acquisition of investment capital.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This has already cost [[tagnumber 24]]RMHB[[tagnumber 25]] more than 29% of value in today’s trading and shares have been flying around. The company stock is certainly going to be one of the most traded ones on the OTC marketplace today.[[tagnumber 2]]