What Does The Future Hold For Can XLI Technologies Inc. (OTCMKTS:MYXY)?
XLI Technologies Inc. (OTCMKTS:MYXY) added another impressive 13.16% to its market value yesterday, for a grand total of $0.86 per share. However, there are indicators that this jump may come to a screeching halt before long.
So what might those indicators be? Well, first of all, even superficial due diligence reveals the staggering mediocrity of the numbers in MYXY‘s latest financial report:
- NO CURRENT ASSETS
- Total Current Liabilities – $101 thousand
- NO REVENUE
- Net loss – $10 thousand
Those numbers hardly seem like they should belong to a company, who is currently valued at $64 MILLION on the OTC Markets. They reveal an appalling idleness, or incompetence – it’s not clear which one of those caused what we’re seeing here.
Frankly, if these achievements are indicative of MYXY‘s management’s business acumen, it is a miracle that the ticker has managed to even start climbing the charts. All things considered, that’s a huge red flag.
Unfortunately, as hard as that may be to believe, this is not even the most noteworthy thing to watch out for that the company’s recent filigns can reveal. The 8-K that MYXY filed just three days ago announces that on Oct. 14, 2015, the company’s founder has sold 50 MILLION shares of MYXY‘s common stock to a Mr. James Schramm, who is now MYXY‘s president and CEO, for just $20 thousand.
That fact sort of speaks for itself. Investors should really heed what it is saying about the company and tread lightly.
