Home Health International, Inc. (OTCMKTS:HHII) Bursts Out of the Dark
The OTC is a place of wonder. Unexplainable, almost magical things can happen overnight. One such thing is the move that Home Health International, Inc. (OTCMKTS:HHII) made on Friday. After spending nearly half of last month at zero-share daily volumes, last Friday HHII suddenly burst out of oblivion and logged its biggest volume ever, closing 900% up, at $0.003 per share.
The reason HHII closed in double zeroes after a 900% jump is simple – the stock was previously barely trading at $0.0003, just a day earlier. The reason for the abysmal price level and the lack of interest in the ticker is simple – HHII happens to be a Pink No Information company whose last filing came in the spring of 2012, almost two full years ago.
Even that distant report contained abysmal figures reported as of March 2012:
- $250 in cash
- $120 thousand in current liabilities
- ZERO in quarterly revenues
- $12 thousand in quarterly net loss
In addition to being in the Pink No Info tier due to the lack of any current information on the company, HHII is also stamped with the ‘Buyer beware’ skull and crossbones on OTCMarkets and the display of a quote has been discontinued.
We half-expected the company to have come up with a new PR concerning its entry into the marijuana sector. This, however, is not the case. As a matter of fact HHII has not come up with a single news release in the last full calendar year, in keeping with its policy of a complete public information blackout. The company’s current financial situation and outstanding shares can only be guessed at. HHII was also pumped back in 2012, with over 60 paid emails arriving before promoters gave up and simply let the ticker fall.
The sum of all the above huge red flags did not stop traders from pushing HHII on its mystery run on Friday. Considering there’s no clear indication of what has been going on and the fact that there is a huge pile of glaring risk factors connected with the company and its information disclosure or lack thereof, traders would do well to run their own due diligence and research before trying to chase mystery ‘cheapies’ that caught a sudden boost.