AMERICAN DIVERSIFIED (OTCMKTS:ADHC) Reminding People They Exist
We didn’t hear anything about American Diversified Holdings Corp (OTCMKTS:ADHC) from quite a while. The last news about the company as well as their last promotional campaign, which ended up driving the stock price even lower than before were back in the second half of March.
Their ticker is going up and down the chart each day and it’s latest resting spot is at $0.0002 which is roughly 33% down from the $0.0003 that they had the previous day. In other words they are 1 step from going to the minimal price at which stock is traded. Looking on this from a funny, optimistic angle they can’t go any lower, which is appeasing in some way.
As we wrote in our previous article about them, ADHC have a long history of name changing, big promises of revenue, acquisitions that fail almost every time and a bad financial state. Unfortunately ADHC‘s latest quarterly report doesn’t contain any financial data. The financial state of the company is really bad, and for those of you who haven’t followed our articles about ADHC we will take a quick moment to show you what we mean when we say bad.
- cash: $5 thousand
- current assets: $139 thousand
- total liabilities: $781 thousand
- revenue: $0
- quarterly net loss: $172 thousand
Revenue of $0? When the company is established in 2001, that seems surprising rather than unfortunate. We are saying that, because if your company is a couple of years old you can blame luck for your misfortune, but when the company was incorporated 12 years ago it starts to look just like the next insider enrichment scheme that sells “words” to investors.
This is probably the reason why their stock has hit rock bottom, so anyone who has in their mind the thought of investing in them should do their due diligence and make a good plan on how he is going to play his cards to get some profit.