FORCE PROTN VIDEO (OTCMKTS:FPVD) Remains a Flippers Paradise
Volatility on the OTC marketplace is nothing uncommon. However, Force Protection Video Equipment Corp (OTCMKTS:FPVD) is one of the stocks that have gone through some of the wildest volatile swings over the past few months. In Friday’s session FPVD dropped 20% down to a close at $1.26 per share. Over the course of the last three months FPVD traded in the massive range between $2.20 and $1.00.
Friday’s crash did not seem to be triggered by any particular event or news release. The company has kept quiet for nearly three full months when it comes to PR. The company’s latest report also dates back quite a while, covering the three months ended July 2015. The new quarterly is due sometime next week.
Given that FPVD‘s latest news release came in mid-September and volume only started to pick up in November, the stock’s movement is quite difficult to explain. At any rate, FPVD gave aggressive traders who love a bit of risk multiple great opportunities to make a quick buck, buying the massive dips and selling into the following climb, hopefully before the price hiccups again.
The company’s last available quarterly gives little reason for excitement. Here is the brief summary of the balance sheet contained in it:
- $3 thousand in cash
- $58 thousand in total assets
- $15.9 thousand in quarterly sales
- $53 thousand in quarterly net loss
The only thing of any significance that came after the quarterly is a few 8-K filings revealing the issuance of convertible notes that can be turned into common shares at a discount. The financing was definitely needed but the 40% discount from market prices on conversion may be enough to put more careful investors off.