Smart Ventures, Inc. (OTCMKTS:SMVR) Finally Wakes Up
After a long period of sliding down the charts, the stock of Smart Ventures, Inc. (OTCMKTS:SMVR) entered double-zero land in the middle of last month. It looked like it was headed even lower, but the latest session shows a change in the trend.
All the touting from numerous paid promoters and the company’s efforts of self-promotion were insufficient to reverse its downward course for quite some time and the ticker’s movement in yesterday’s session is somewhat of a mystery.
Trading started rather slow and intensified as the session went on. By the end, the gain that SMVR had made came to a whopping 170% and the ticker closed at a price of $0.0065, on a massive volume of 63.6 million shares that generated $290 thousand in trade value.
This movement brought the current market cap of SMVR to $8 million, which is a bit high considering the company’s book value. You can take a look at the numbers of prime interest from their Q1 report for this year and be the judge for yourself.
- cash: $60,956
- current assets: $808 thousand
- current liabilities: $85 thousand
- revenue: $301 thousand
- net income: $60,956
On the bright side of things, the company is making revenue and the liabilities are rather small. On the other hand the current cash is also very little and then there are the discrepancies between the company’s filings, which lead to a lot of doubt about the information contained in them.
In their annual report for the period ended December 31, 2013, for example, we can see that the company has made $539 thousand in revenue for the year and this is the total amount made since inception in November, 2006.
In their Q1 report for this year, however, it is stated that over the course of the three months that ended April 30, 2014, the company has generated total revenue of $1,049,590 and this is listed as the only revenue since SMVR‘s inception in November, 2006.
In the end, this is either a very foolish mistake made by the person doing the accounting or the figures in the company’s reports are imaginary. You can decide which one it is for yourself, but in any case, be sure to do a lot of due diligence before making an investment decision.
