Green Star Product Com (OTCMKTS:GSPI) Gets A Pump
Green Star Product Com (OTCMKTS:GSPI) finally got a bit of investor attention on Friday – too bad the only way it could ever get it was through a paid pump.
The ticker was stuck in illiquid obscurity for more than two years, with virtually non-existent dollar volumes – and once a bit of due diligence on GSPI is done, it immediately becomes clear why that is.
Simply put, the company has nothing to its name that would impress, inspire, captivate investors or retain their attention. It is sort of indicative that GSPI‘s most recent financial report for the fiscal 2015 looked like this:
- Cash – $3 thousand
- Other Assets – $833 thousand
- Total current liabilities – $2.2 MILLION
- Total operating revenue – $132 thousand
- Net profit – $16 thousand
The fact that almost all of the company’s assets are in the form of “Loans receivable from related parties” is thoroughly depressing.
Still, the worst part of the picture that the report painted is the fact that the objectively idle and mediocre numbers that GSPI gave in that report are actually a drastic improvement over what it had to show for its efforts at the end of the fiscal 2014.
At the very least the company stopped racking net loss during 2015, which is somewhat surprising, given its previous achievements.
Another detail that is unexpectedly absent in GSPI‘s reports seems to be toxic debt. For the most part, the company’s liabilities seem to be due to accounts payable – which is not great, since GSPI doesn’t seem to have the means to repay said debt, but is certainly preferable to drowning investors in dilution.
Investors would do well to note all these facts when they make up their mind about whether or not they wish to try and play GSPI.
