Ubiquity, Inc. (OTCMKTS:UBIQ) Is Moving On Pumps Again
It seems like the only times Ubiquity, Inc. (OTCMKTS:UBIQ) stock gets traded is when it gets a paid pump. Last time we covered the company, it had been targeted by a promotional campaign – and this time is no different.
Unfortunately UBIQ‘s 153.73% rise yesterday on a dollar volume of $1.22 MILLION was only made possible by a promotion by an outfit called OTCStars. Said pumper was paid $20 thousand by an entity named ACS Group to target the ticker, and truth be told did a pretty good job of it. Some UBIQ stock was shifted after months of near illiquidity, and a lot of money changed hands as a result.
Still, investors should not forget the reason why UBIQ has been so inert until now. Trying to do proper due diligence on the company leads into a brick wall – the last report on its financial situation is not only unimpressive, but severely outdated:
- Cash and cash equivalents – $102 thousand
- Total current assets – $389
- Annual Revenues – $67 thousand
- Annual Net loss – $24 MILLION
Now to be fair, 14 million of that net loss can be attributed to stock-based compensation, but even if you take that into account and disregard some figures, it doesn’t change the fact that the company has spent millions of dollars in order to make just $67 thousand in revenues.
That more or less tells you all you need to know about how this company does business. Well, that and the fact that about a year ago UBIQ got $204 thousand worth of funding from an entity named KBM Worldwide, Inc. Said debt had the following provisions – “conversion price equal to 50% discount to the average of the lowest three (3) trading prices for the Common Stock during the twenty (20) Trading Day period immediately prior the conversion date”. Do we really need to say more on the matter?
In conclusion – UBIQ looks like just your regular ordinary OTC Markets pump job – and it even looks like the mandatory crash that always follows such events has already begun. Investors should take that into account and act accordingly.
