AV1 Group, Inc. (OTCMKTS:AVOP) Steps Up Again
AV1 Group, Inc. (OTCMKTS:AVOP) managed a 10% rise in yesterday’s session, in spite of being in as poor shape as ever.
To say that AVOP has been doing poorly in recent months would be inaccurate on two counts. First, it’s not like it’s been doing badly, because it hasn’t really been doing much of anything, and second – that’s not a recent state of developments.
We have covered AVOP on multiple occasions over the years, and its results have never been impressive. Last time it reported, well… See for yourself:
- Petty Cash & Current Assets – $1 thousand
- Total Assets – $ 83 thousand
- Quarterly Revenues – $3 thousand
- Quarterly Net Loss – $0.2 thousand
The way AVOP lists its cash reserves as “petty” is simply hilarious, in a tragic sort of way. Then again, the same can be said about pretty much anything related to the company.
Well, maybe not its share structure. “Horrendous” may be a better description for that one, what with AVOP being in the habit of printing tens of of thousands of dollars worth of shares as a result of conversions of rates as low as $0.00002 per share.
Yes, that’s right – four zeros – and if you find that difficult to believe, just check out page 3 of its latest financial report.
“Petty” is a description that could probably also be applied to the company’s ridiculous attempt to describe its latest 1 for 20000 reverse split as a step in the right direction for investor value. No matter how much it is sugar-coated, the fact that a company with next to nothing to its name has had to perform such a monstrous reverse split in order to regain some liquidity speaks volumes in and of itself.
Investors are advised to take all of this into consideration and act accordingly.