Valmie Resources Inc. (OTCBB:VMRI) Looks Hesitant Again
tags: VMRI
Valmie Resources Inc. (OTCBB:VMRI) managed to more than recover from Thursday’s pullback in Friday’s trading – and in spite of today’s red opening, investors seem as confident today as they were before the weekend.
Truth be told, it is quite the wonder that investors have any confidence in VMRI whatsoever at this point in time. After all, we’re talking about a company whose latest financial report showed the following horrific numbers:
- Cash and cash equivalents – $24 thousand
- Total Assets – $58 thousand
- Total Liabilities – $268
- No Revenues
- Quarterly net loss – $83 thousand
As we’ve stressed before, those numbers just don’t fit with the company’s absurd market cap of $110 MILLION. That detail alone should be enough to make investors wary, and unfortunately, there is plenty more red flags where that came from.
Like the fact that 59 million shares of VMRI‘s common stock were issued at a rate of 0.000169 per share a couple of years back. Or that in the last two years, VMRI has sold approximately 3 million shares of its common stock at at a rate of $0.1 to third parties.
Then there’s the fact that the company’s ascent was stared by a paid pump campaign, sponsored by VMRI itself – which is never a reassuring state of events.
At the end of the day, it VMRI‘s current momentum is quite strange indeed – which is why investors should be wary when dealing in VMRI stock.
