the market cap here ($160k) is crazy low for a filing otcbb stock -- quoting an authorized share count doesn't mean squat. what's pretty obvious in the filing is that the outstanding share count is unchanged. $160,000 cap -- that's cheaper than a clean, filing otcbb shell these days (they go for $450-$650k)...the company didn't issue any shares in the past quarter+ a few weeks (the date of this filing). all that has been going on here for months is penny stock flippers rearranging ownership of the public float.
as for booked losses, surely someone noticed the company switched accounting firms. they are treating the financing differently on the books. that's all fine... i hope the company books every non-cash loss they can -- if they ever get a profit going, that's less taxes they have to pay.
plus, if you are truly looking for a "value investment" why post here? kind of pointless. this is not value investing. this is a chip and a chair kind of stuff that you don't put much into...
speaking of value investing, here's a tip: my definition of value is market cap above $500M, debt/equity ratio of under 1, with at least 5% revenue growth and a P/E ratio below 10 (and the lower the better). this stock obviously doesn't meet that criteria. this sub-penny stock has nothing to do with value investing. none at all. i'm just here for fun and the possibility they will stumble onto something that works -- eventually.
i will say this -- the share structure is stable. and they are trying to generate some revenue from a scratch business. that's more than can be said of most total trash pink sheet non-filers out there. this company files and has audited financials, at least give them some credit for that...
i know there are some large bids in at .0006. perhaps there are some people that are frustrated they are not getting a fill?? do you know anyone that fits that profile?
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