QPAGOS (OTCMKTS:QPAG) Stumbles Right Back Down
QPAG barely saw any activity at all for months and months on end – but lo and behold, last Tuesday it announced the roll-out of its “self-service payment solutions for a multi-state micro lender”. The announcement itself was used boastful and profusely optimistic, but once you take a good long look at it, it quickly becomes apparent that in spite of its length, it didn’t really say much about the actual event, and what little it did reveal was insubstantial or inconsequential.
With this in mind, it is really no wonder that the news attracted some attention but didn’t afford the ticker a prolonged climb.
Another reason why QPAG is currently failing can be found in its unconvincing financials:
- Cash – $252 thousand
- Total Current Assets – $1.7 thousand
- Total Current Liabilities – $355 thousand
- Quarterly Net Revenue – $887 thousand
- Quarterly Net Loss – $2.7 MILLION
Those numbers hardly look like they can justify the company’s market cap of over $61 MILLION – and this is what QPAG is worth after it crashed. Suffice it to say that it needs to have made a lot of progress since it last reported to have earned such a high place on the charts – and currently, there is nothing besides its own words to suggest that this is actually the case.
One thing is certain though – even if QPAG has made progress with respect to its business ventures, there’s an elephant in its living room that needs to be addressed. We are talking, naturally, about its over-fondness for stock-related shenanigans. Suffice it to say that as of about two weeks ago, the company had 55 million shares outstanding. Thirteen months ago, that number was 5.5 times lower.
Those are not encouraging details – and when combined with the fact that QPAG is currently on the receiving end of a Profitable Trading LLC pump, they make for a rather grim picture. Still, investors are advised to take all of this into account, because to trade QPAG stock without doing so could prove disastrous.