Premier Holdings Corp. (OTCMKTS:PRHL) Catches Another Boost
Premier Holdings Corp. (OTCMKTS:PRHL) managed an impressive 24% up yesterday, in spite of the fact that the only thing the company has going for it is a feeble paid pump.
We covered PRHL back in May, and it seems like very little in the company’s situation has changed for the better since then. In fact, PRHL‘s latest financial report for the first quarter of 2016 seems to indicate that its overall situation has grow worse quarter over quarter:
- Cash – $0.5 million
- Total current assets – $1.29 million
- Total liabilities – $4.2 million
- Total revenue – $1.2 million
- Net loss – $1.2 million
The company seems to be making more revenues, true – but it is also burning through cash at an increased pace. Still, since that sort of thing is to be expected from an OTC Markets underachiever, this state of developments is not the troubling bit about PRHL‘s situation.
The fact that’s the most troubling and at the same time – indicative of the company’s nature is that PRHL is a company that has issued $1.4 MILLION worth of debt which “the holders may elect to convert the note in whole or in part into shares of common stock at a conversion price of 80% of the average closing market price over the prior 30 days of trading”. This very same company is currently on the receiving end of another paid pump by PennyStockGeneral, ShiznitStocks and AbleTraders. Need we say more on the matter?
The most recent pumper activity has already afforded quite a bit of a window of opportunity for bold traders to make some quick money. However, as we all know, paid pumps tend not to last – which means that henceforth, investors would do well to be extra careful with PRHL, as it may end up nosediving any moment now.