Valmie Resources Inc. (OTCBB:VMRI) Flies Even Higher
Valmie Resources Inc. (OTCBB:VMRI) added another 64.10% to its market value yesterday, jumping well above the dollar threshold in the span of a single intense session – but why?
By this point, investors that have done some serious due diligence on VMRI are probably wondering what could possibly be pushing the ticker up. And they’d be right to do so, because as far as research can show, VMRI‘s achievements can’t really be the cause of the climb, because they are nearly nonexistent.
We’re talking about a company, whose latest financial report looked like this:
- Cash and cash equivalents – $24 thousand
- Total Assets – $58 thousand
- Total Liabilities – $268
- No Revenues
- Quarterly Net loss – $83 thousand
What’s worse is that this appalling picture of soul crushing mediocrity doesn’t really get better if you dig deeper in the company’s reports.
No, in fact it gets even more depressing, as it turns out that in the last 2 years or so, VMRI has issued about $300 thousand worth of stock at rates of $0.1 per share. Things get even more ridiculous as you dig deeper and deeper, and the endless list of suspicious deeds that threaten investor value culminates with the issuance of 59 million shares of VMRI common stock for less than $10 thousand, which the company did a couple of years back.
So what can one take away from all of this? Well, VMRI seems to be extremely volatile at the moment, which has created ample opportunities for opportunistic traders to make some money by trading the ticker. However, investors would do well to be on their toes from here on out and only go into such trades with the full realization that there are plenty of factors that could pull the rug from under their feet at any given moment in the immediate future.
