XLI Technologies Inc (OTCMKTS:MYXY) Goes Further Up
[[tagnumber 0]][[tagnumber 1]]Just over a month ago no one had heard of XLI Technologies Inc (OTCMKTS:MYXY). The ticker was going absolutely nowhere and the daily trading usually amounted to zero. Things quickly changed, however, and [[tagnumber 2]]MYXY[[tagnumber 3]] began climbing the charts on decent volumes.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]It seems that the hype generated from press releases concerning the acquisition of one Bosch International LLC (not to be mistaken for the German electronics and engineering giant) were enough to provide an uplift for the ticker and keep investors away from the fundamental of [[tagnumber 2]]MYXY.[[tagnumber 3]] Fundamentals that look pretty bad. Here is what the company had in its balance sheet for the quarterly period ended August 31.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 13]] [[tagnumber 14]]total current assets: ZERO[[tagnumber 15]] [[tagnumber 14]]total current liabilities: $101 thousand[[tagnumber 15]] [[tagnumber 14]]revenues: ZERO[[tagnumber 15]] [[tagnumber 14]]net loss: $10 thousand[[tagnumber 15]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Unfortunately, the investor public has not yet been informed of the numbers contained in the balance sheet of the newly acquired entity, but we are quite sure that they would probably be pretty ugly as well. Meanwhile, the company’s market cap has risen to an impressive $53 million, a thing that you should keep in mind.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]And while the company has rather sad fundamentals it did manage to gain another 17.36% in yesterday’s trading and close at $0.71. A total of 205 thousand traded shares generated $136 thousand in daily dollar volume. The ticker has been making slow upward steps in today’s trading as well, but given the huge market cap, the sad balance sheet and all the unknowns we would advise you to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 4]]
