Last time we checked on VoIP-Pal.com Inc. (OTCMKTS:VPLM
) the company looked like it was slowly and steadily headed down after its mystery run that ended on June 9. Perplexingly enough, VPLM
is still on the ascent, for no obvious reason.
Yesterday’s session saw VPLM
rise another 16.39% without an discernible cause – same as the last time. One look at the charts makes it obvious that the ticker’s jumps are not pump or PR driven, as is often the case with OTC Markets penny stock companies. In fact, the days in which VPLM
has issued press releases are just about the only times in the last three weeks when the company has closed deep in the red.
But is there really a reason for investors so excited about VPLM
? The company has not had relevant announcements, new filings, and as far as one could tell – any sort of real development, in quite a long time. On March 31, 2014 its financials looked like so:
- current assets – $114 thousand
- total liabilities – $33 thousand
- NO REVENUES
- quarterly net loss – $141 thousan
If taken on their own, these figures are unimpressive, even by the standards of the OTC Markets. Once one realizes that the company they belong to has a $289 million market cap, disappointment turns into shock and bewilderment. How can a company that has $114 thousand in current assets be traded for $289 MILLION?
The only even remotely plausible reason for VPLM‘s
jump is the ecpectation of investors, that a major event will occur during the “Insider Trading Blackout Period
”. Said period was announced some time ago without an obvious cause, and has been extended until the close of the market on Thursday July 3, 2014 – again, for no discernible reason.
The nature of this much anticipated development is unknown, and no information on when it may take place exists to date, ANYWHERE, but hyped up VPLM
enthusiasts seem awfully sure that it will justify their continued interest in the company.
All kinds of rumors and theories on the significance of this insider trading ban are currently floating in the web – but how much further up the charts can VPLM
rise on hype and hope?
Another serious mover on the OTC penny scene yesterday was United Cannabis Corp. f/k/a MySkin Inc (OTCBB:CNAB
), who jumped even higher than VPLM
, managing to climb a whole 34% in one market session.