Swordfish Financial Inc. (OTCMKTS:SWRF) Crushed After Report
Swordfish Financial Inc. (OTCMKTS:SWRF) filed its latest report two days ago, and crashed as soon investors had the chance to adjust their attitudes towards the company.
Truth be told, SWRF hasn’t really seen a lot of action lately – although the ticker has been moving up and down, volumes were always abysmally low. On Nov. 18 Mr. Westbrook, CEO of SoOum made an announcement that the company’s Board of Directors is to go through some serious changes. Investors were unimpressed at first, but eventually the stock was headed up in spite of their general indifference.
What eventually caught the traders’ attention was the financial report that hit the web after the next market session. The numbers in it threw most SWRF present and future investors in shock and panic:
- Cash and Cash Equivalents – $61 (NUMBER NOT IN THOUSANDS)
- Total Assets – $61 (NUMBER NOT IN THOUSANDS)
- Total Liabilities – $6.9 MILLION!!!
- Quarterly Sales – $492 (NUMBER NOT IN THOUSANDS)
- Quarterly Net Loss – $431 thousand
The fact that SWRF had JUST SIXTY ONE DOLLARS on September 30 should be enough for investors to decide whether or not they wish to commit to SWRF stock.
Furthermore, by the look of things, yesterday’s 25% drop may not be the last one SWRF will experience due to its disastrous financials.
