Voip-Pal.com Inc (OTCMKTS:VPLM) With a Mysterious Spike
Strange an inexplicable things happen in Pennyland on a daily basis. Don’t believe us? Just take a look at what happened to Voip-Pal.com Inc (OTCMKTS:VPLM) yesterday.
The company has been in the VoIP business since March 2004 and over the past eleven years, the people running it have made numerous promises. They have failed to deliver on them. Having said that, we should probably point out that getting a business off the ground without a solid financial foundation is really difficult. And unfortunately, “solid” is the last thing that comes to our mind when we think about VPLM‘s balance sheet.
Here, for example, is what it looked like at the end of March:
- current assets: $65 thousand in cash
- current liabilities: $66 thousand
- NO quarterly revenues
- quarterly net loss: $159 thousand
Not exactly the figures you want to see from a company that is about to change the way we communicate.
Sure enough, the stock performance has left a lot to be desired as well. In September 2014, for example, the ticker was playing with the $0.20 per share mark whereas a couple of days ago, it was barely hanging on to $0.07. Despite this, if you check out the message boards, you’ll see that over the years, VPLM has gathered a following of loyal shareholders and thanks to them, it seems to be back on the run again.
Yesterday, it experienced a significant volume spike and, after gaining 30% in a matter of six and a half hours, it came to a close of $0.12 for the first time in over six months. Why did it do that?
That’s where things start to get a bit complicated. There are no new filings to push the stock up and there are no promotional emails. The latest press release is also quite old. The only thing that seems to have contributed to the jump is some buzz around the message boards.
People are saying that the United States Patent and Trademark Office has made an update to its website. Nobody is willing to say what the update is, but investors appear to be convinced that the benefits for VPLM will be immense.
And that really is where the problem lies. The company hasn’t issued any updates so far which means that if you decide to jump in, your actions will be based purely on rumors and speculations. And numerous other penny stocks have shown us in the past that this might not be the best investment strategy.
Still, you might be feeling adventurous and you might be thinking that sooner or later, the news will come and the stock will really explode. Of course, that might just happen, but be sure to keep a close eye on the ticker and perform a careful risk assessment. During the first three months of 2015, some note holders received just under 3.1 million shares at $0.05 apiece as a conversion of debt and they might be eager to sell them on for a profit.
About thirty minutes after the opening bell, VPLM is sitting at $0.0119 (0.9% in the red).
