Pumpers Try Again with Dibz International Inc (OTCMKTS:DIBZ)
According to the management team, Dibz International Inc (OTCMKTS:DIBZ) “is a holding company organized with the goal of acquiring and managing a diversified portfolio of profitable growth-oriented companies”. By the looks of things, however, business is at a standstill.
DIBZ‘s website, for example, contains several links to what are presumably some of the company’s subsidiaries. Some of the links don’t work while others lead you to websites that only display a logo. The only thing offered by DIBZ that does appear to be alive and kicking is the Tokin Mail – an email service for the “cannabis conscious” (whatever that means). And it’s free.
Despite this, DIBZ somehow managed to record some revenues during the first quarter. It’s not much, though, and the words “growth-oriented” and “profitable” aren’t really suitable for describing the balance sheet. Here’s a summary of the most important financials:
- current assets: $528 in cash
- current liabilities: $95,100
- quarterly revenues: $2,200
- quarterly net loss: $56,394
Getting the company off the ground will be really hard with these sort of results and it must be said that DIBZ‘s management team aren’t really renowned for their successful business endeavors. Paul Taylor, the company CEO, for example, was once at the helm of Netco Investments (previously traded under the NCVT symbol). NCVT failed to get its business going, and, after more than a few unpublished financial reports, the SEC finally decided to revoke the stock in December 2014.
Some people around the message boards even reckon that while he was at NCVT, Mr. Taylor issued some misleading press releases. We don’t know whether that’s true or not, but we do think that it should warrant a little bit of extra caution and research.
Some people, however, don’t need research. They are ready to jump in simply because someone told them over an email that this is a good idea. The first alerts started hitting investors’ inboxes on June 11 and they resulted in a volume of around 2.6 million shares. Instead of inflating the ticker, however, the pump squashed it and DIBZ lost a knee-shaking 80% of its value in a matter of a single session.
The promoters and the paying parties, however, remained undeterred. On Friday, ALG Financial, the entity controlling Hidden Gem Stocks and a few other newsletters, received $15 thousand and as a result, some more alerts popped up in our database. At 5 million shares, the volume was even more impressive this time, and the ticker actually managed to close the session in the green. It wasn’t plain sailing, though.
After a significant gap up, DIBZ ran to an intraday high of $0.035 per share. Then, however, it lost momentum rather quickly and if found itself in a free fall which was eventually stopped by the closing bell at $0.019 – lower than the opening price.
So, the pumpers failed miserably at improving DIBZ‘s stock performance. Having seen the company headquarters in the rural part of Alabama, the woeful financial statement, and the lack of any obvious operations, however, we can’t really say that we’re shocked.