AppSwarm Inc (SWRM)

[valuemanager]

A LITTLE bit too pricey, methinks!!

Another pump & dump scheme. That's my sorry conclusion after sifting through some SEC reports. Note the recent 10-Q.

Some data points:

Negative tangible equity (65% of assets are intangibles).

$660,000 revenue (run up rate, Jan - Jun X 2). On a per share base, with 18 million shares outstanding this is less than $0.04 per share. Even if you add another supposed $1 million revenue by recent acquisition, that's still only 9 cents revenue per share.

Assuming the business is profitable (it is not, has a history of burning cash), and a nice net profit margin of 10%, hypothetical profit would be less than $0.01 per share. Hypothetical P/E ratio at current price $1.08 is 108. This thing will sink back into penny land.

'Nuff said.

Disclosure: Short position (what else do you expect with these findings).