Valmie Resources Inc. (OTCBB:VMRI) Recovers Some Ground
Valmie Resources Inc. (OTCBB:VMRI) managed to step over the dollar threshold on Friday, and judging by today’s early trading, it may actually be able to retain its gains this time around.
Then again, we are talking about a company who has issued 3 million shares of its common stock at at a rate of $0.1 per share in the last two years or so. Needless to say that that sort of thing severely diminishes the company’s chances of actual stability in the immediate future.
Still, things could be worse than that – and if you take the time to research VMRI, it quickly becomes obvious that they actually are. Even before the horrendous issuances we mentioned above took place, VMRI had a long history of dubious stock-related moves. For instance, at one time it issued 59 million shares of its common stock in return for less than $10 thousand.
Add this to the fact that VMRI’s most recent quarterly report looked like this:
- Cash and cash equivalents – $24 thousand
- Total Assets – $58 thousand
- Total Liabilities – $268
- No Revenues
- Quarterly net loss – $83 thousand
With all of this information in mind, it should be pretty obvious why investors should be on their toes at all times.
Simply put – VMRI’s market cap is too high to be justified by its achievements to date, and its past stock-related shenanigans makes lasting stability difficult to achieve. Let the buyer beware.
