Appiphany Technologies Holdings Corp. (OTCMKTS:APHD) Returning To Rock Bottom
Appiphany Technologies Holdings Corp. (OTCMKTS:APHD) nearly managed to reach half a dollar after publishing its latest announcement and being hit with a paid pump o boot – but now it is returning back to the obscurity it managed to briefly crawl out of.
The reason why APHD‘s astonishing jump did not turn into a prolonged surge should be obvious for anyone who has done any due diligence on the company. Put quite simply, APHD was fueled by hype on its way up, but once it got to the top, the gains it made couldn’t be retained because it had literally nothing but touts to its name.
Suffice it to say that the company’s latest filing looked like this:
- Cash & current assets – $0.2 thousand
- Current Liabilities – $168 thousand
- Total Liabilities – 1.2 million
- NO REVENUES EVER
- Net Loss – $544 thousand
Yes, these numbers are correct. Which means that, for a brief moment two days ago, a company with $200 to its name had a market cap of more than $12 million. One does not need to be an genius economist to immediately notice the inconsistency here, and to quickly deduce that a correction was inevitable. True to form, the market’s natural tendency towards equilibrium quickly saw to that.
Or was it that $100 thousand worth of notes, that could convert into shares of APHD common stock at a rate of $0.0025 that crashed the ticker? We may never know.
Regardless, APHD seems to be a perfect example of the perilous nature of paid pumps, and why investors need to think three times before trying to play them.
