Valmie Resources Inc. (OTCBB:VMRI) Climbs Even Higher

tags: VMRI

Valmie Resources Inc. (OTCBB:VMRI) added another impressive 21.83% to its price per share on an increased dollar volume – which puts it in an even more peculiar situation.

We are, naturally, talking about the fact that a company that has been branded under the menacing “Caveat Emptor”  category by the SEC currently boasts a market cap of over $160 MILLION. It is not often that such things happen, but when they do, the end result is more often than not a suspension of trading for the ticker in question for suspicious activity and an in-depth investigation by the SEC.

Naturally, we can’t be completely sure that this is what fate has in store for VMRI. Unfortunately, the probability of such an event only seems to increase as the discrepancy between the company’s market cap and actual achievements to date grows more and more pronounced.

As we have said on multiple occasions, nothing the company has done to date seems to justify its ridiculously bloated market cap:

• Cash and cash equivalents – $24 thousand
• Total Assets – $58 thousand
• Total Liabilities – $268
• No Revenues
• Quarterly net loss – $83 thousand

Those numbers don’t really present VMRI as anything more than the typical suspicious OTC Markets underachiever – and yet, somehow the company currently has a market cap fit for a fully functioning NASDAQ entity.

The situation is made even more suspicious by the fact that VMRI has a history with paid pumps, as well as dubious stock-related activities. Investors are advised to note well the fact that VMRI has issued about 6 MILLION shares of common stock in return for funding during the last two years.

While under normal circumstances that wouldn’t have been that big of a deal, in this particular case the stock was issued at rated of $0.1 per share. VMRI is currently traded at a price 24 TIMES that amount.

Investors are advised to do the math, judge very carefully what the results say about the company in question and take this conclusion into consideration when eyeing VMRI.