Highline Technical Innovations, Inc. (OTCMKTS:HLNT) Regains Losses
The chart of Highline Technical Innovations, Inc. (OTCMKTS:HLNT)’s stock looks like a cardiogram of a patient who has just suffered a heart attack. Recently, however, we saw an interest in the ticker and a heightened volume.
The most obvious reason for that development is the announcement that the Department of Defense of the U.S. has shown interest in the potential of hydrogen for improving fuel consumption, engine performance and reduction of emissions of diesel exhaust particulates.
This helped HLNT which gained 21% in value yesterday, closing the day at $0.0017 and making up for the previous day’s loss, while trading heavily. There were more than 169 million shares that changed their owner, generating $343 thousand in dollar volume.
Meanwhile, the company’s CEO, Charlton Coats sent an email, responding to an inquiry that was posted on the stock’s message board, saying that they have raised capital to pay off necessary bills. This statement doesn’t sound comforting as the company needs a lot more funds, considering their report filed under the alternative reporting standard for the period ended September 30, 2013.
- cash: $8!
- current assets: $301 thousand
- total assets: $320 thousand
- current liabilities: $3.3 million
- revenues: $101
- net loss: $12 thousand
With $8 in the bank the company can buy a hamburger at best and the fact that the cost of the goods sold to make an amazing $101 in revenue was equal to the revenue itself raises more questions. Furthermore, it is disturbing how many allegations are flying around message boards recently.
There are people that say that former CEO Mel Robinson linked with Jim Bolt, who was convicted of fraud after he plead gulty might still have something to do with the company, but the current CEO has denied these claims, saying he hasn’t even met Robinson since his resignation.
What is more disturbing, however, is the $191 thousand tax lien and some people are wondering if criminal charges can be filed against the company and its management. Also, users on investor message boards are saying that the people who were running the company have connections with “white supremacists” and KKK members, which definately isn’t good publicity.
Not to mention the fact that the company doesn’t even have a website at the moment which is very strange for a modern business.This is good enough reason for you to do your due diligence and weigh out the risk before deciding to make an investment decision.
Minerco Resources, Inc. (OTCMKTS:MINE) had another good session, gaining 45% and heading for a second week of closing in the green. Growlife, Inc. (OTCBB:PHOT) also closed with positive results, but has started sliding again in today’s session.
