Valmier Resources Inc (OTCMKTS:VMRI) Hesitating
tags: VMRI
Valmie Resources Inc (OTCMKTS:VMRI) has gained quite a lot of altitude since the beginning of the year and the daily volumes in the past couple of months have increased significantly.
The company’s market cap reached more than $160 million at one point, but has dropped a bit lower since then. It still sits above $100 million, which is quite disturbing when you compare it to the contents of VMRI’s balance sheet from its latest financial report.
- cash: $24 thousand
- total assets: $58 thousand
- total liabilities: $268 thousand
- revenues: ZERO
- net loss: $83 thousand
Those numbers are far from something that you would expect to see in a report of a company worth more than $100 million. Meanwhile, the company bears the black skull and crossbones caveat emptor sign in the OTC marketplace, which suggests that VMRI can get in a lot of trouble, especially with this bloated market cap.
The company also has a history of being a target of paid promotions and its was most recently touted by Emerging Markets Consulting, LLC, who received “$135 thousand by Dedicated Emails on behalf of Valmie Resources”.
Giving more than two times the amount of your total assets seems fishy enough for anyone with a bit of risk-assessment capabilities to stay far away. If you are still having any thoughts on trading VMRI, however, you should be sure to do your own due diligence first. After all, the ticker has already started correcting and sits at $1.68 per share after yesterday’s 13.85% drop.
