From one year ago....Yippy (YIPI) Yippy is tippy… especially at these levels.
This is one of those scary stocks that make me cringe. Earlier this year, the stock traded for around 10 cents a share… today it’s over a buck.
What scares me about this company is the games they’re playing.
For example, they put out a press release about a common stock dividend. I love dividends, and this got me all excited. Then I looked at the details…
Technically they issued a dividend – but this wasn’t cash they were sending shareholders. Nope. Instead, they sent a 5% stock dividend. No problem… I don’t mind the extra stock. I’ll just sell it and take my cash.
Wait, wait, wait, not so fast. The stock shareholders received as a dividend is restricted – that means you can’t sell it.
What could be better?
Well, since you asked, their financials could be better. They have a whopping $17 grand in cash… and only $5.7 million in debt.
Fantastic.
While we’re looking at the financials, their total revenue in the first quarter of 2011 was a whopping $9,361. And that same quarter they lost only $755,008! This isn’t a business it’s a cash burning machine.
Now here comes the PUMP…
Investor Soup put out a very thoughtful email about the company. Their email was so good, a “non-controlling shareholder” paid them $25,000. It makes me wonder if they’re still a shareholder?
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