The Bounce For Fuse Science, Inc. (OTCMKTS:DROP) Comes To An End

[[tagnumber 0]][[tagnumber 1]]Fuse Science, Inc. (OTCMKTS:DROP) went through the month of October with very few sessions in the green and was headed in a downward direction even faster in the beginning of this month as it obliterated a total of over 98% since the announcement its restructuring plans.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In October it was reminded to us that DROP is branching out in the renewable energy business with the acquisition of 51% of Spiral Energy, Inc. But later it became clear that [[tagnumber 6]]DROP’s [[tagnumber 7]]directors have resigned while in the same time Spiral CEO Ezra Green and their director Dr. Gelvin Stevenson have been appointed directors of DROP. So, in the end we might actually see the company not branching out, but going from biotech to alternative energy.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In any case, the financials of [[tagnumber 6]]DROP[[tagnumber 7]] don’t look rosy either. Let’s take a look at what the company had to show in its report for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $6,321[[tagnumber 19]] [[tagnumber 18]]current assets: $63,215[[tagnumber 19]] [[tagnumber 18]]total assets: $69,689[[tagnumber 19]] [[tagnumber 18]]current liabilities: $2.65 million[[tagnumber 19]] [[tagnumber 18]]total liabilities: $3.5 million[[tagnumber 19]] [[tagnumber 18]]revenues: $57,261[[tagnumber 19]] [[tagnumber 18]]net loss: $448 thousand[[tagnumber 19]] [[tagnumber 32]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It is good that [[tagnumber 6]]DROP[[tagnumber 7]] has $2 million to record as gain from change in fair value of derivative liabilities, otherwise the situation would look even more grim. Let’s not also forget that the cost of sales that DROP recorded for its miniscule $57 thousand in revenues was a whopping $1.24 million, which is quite odd.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Furthermore, Spiral Energy Technology, Inc. is a development stage company that doesn’t even produce any revenues yet. Still, the ticker did manage to bounce in the middle of last week when it added 25% and 60% to its value on Wednesday and Thursday respectively.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The volumes were a lot higher than the average [[tagnumber 6]]DROP[[tagnumber 7]] somehow managed to generated more than $500 thousand in daily values, despite the fact that its official market cap is sitting at a little over $4 thousand, which in itself is rather fishy.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those should be reasons enough for you to do your due diligence and weigh out the many risks that come with investing in such a company. [[tagnumber 2]]