A not so "Phantasmic" finish for the year for OBJE - crashing down from $11.40 on 1/18/12 to today's close of $1.75 - down 18.6% for the day, and 85% for the year.
Not so surprising is that this one man (part time at that), Euro-trash Designer Jean Company turned Social Media wanna-be, to beta testing mobile app player has still yet to produce any revenues.
From the annual report, there were a grand total of 4 (yes four!) stockholders holding the bag on this one (the Beneficial Owner is Kern Capital Corp of the Marshall Islands - yet another sham company set up by Federowicz/Delaney/Cloud). There is no shortage of shares as Paul Watson continues to spew out shares with no results.
At the end of last year there were 19.5 million shares outstanding. The annual report just released now shows 281 million (pre 40:1 reverse split) - an increase of a staggering 1341%!
Throw on top of that the mountain of toxic convetible debt, and you can see why this train wreck is in the ditch...
