VuMee, Inc. (OTC:VUME) Seeks Direction on New 10-Q Announcement

The web video content provider VuMee, Inc. (OTC:VUME) threatens to start the new week on a downward trend, as the ongoing promotion is not delivering the promised stellar growth. The VUME ticker moved up and down in the past week after it broke onto our screens and so far hangs about the levels at the start of the promotion.

Last Friday, the company released new financial results for the period ending November 29th. This is the latest PR message from the company before the long weekend on US markets, and there has been no new promotional mailing since the end of last week.

The company, a former maker of paper products, is offering online media services, focusing on celebrity videos. Its model, however, is too close to that of most popular video sites and the celebrity videos are not exclusive. To make itself popular among the online community, VuMee has the following financial resources:

• $1578 cash, down from $30,297 cash for previous period

• $1 million total liabilities, up from $648,216 total liabilities

• $15,000 revenues

The revenues, up from zero for the previous periods, show the initial stages of activity, but so far the net loss is still deep. The company counts its new software among its assets, stating a price of $21,229. The activity of the company seems to be weighing it down with more debt and sucking out its cash. However, the company managed to decrease some of its spending and ended up with $400,000 net loss, down from the $600,000 from the previous period.

The current promotion activated the VUME stock after the 10-for-1 split in April last year. Thus, VuMee has 750 million shares authorized and 60 million issued and outstanding. Although the post-split stocks gained some traction with very successful trading days due to their low price, so far the results are up and down. With the last email dated January 17th, we may expect less activity for the VUME ticker and gains based on press releases. 

The pumper Penny Stock Heroes may continue touring this web advertiser for a while, given the high budget of $500,000. VUME was the first ticker selected for the new year, but 2012 held several interesting surprises. The most significant ones were Pac West Equities, Inc. (PINK:PWEID) and Solo International, Inc. (OTC:SLIO), two dramatic movers. While PWEID moved higher and held more at the top than expected, SLIO was a botched pump work, falling on the very first day of mailing.