Pumpers Leave DoMark International Inc (OTCMKTS:DOMK) Alone
The last emails about DoMark International Inc (OTCMKTS:DOMK) were sent out by Penny Stock Tweets on May 30 when the ticker gained an impressive 54% in just one trading session. The next day, it would seem, the hype was still on and after opening at $0.1248, DOMK managed to touch $0.15 before settling down at $0.14. Still, this amounts to a further 22% added, so it was not a bad day after all.
The new week came, however, and looking at the results, things are not quite as optimistic as traders would have liked to see them. On Monday DOMK opened the session at $0.15 and while they managed to gain a little bit of ground early in the morning, the positive movement was extremely short-lived and by the end of the day, they had lost around 12% of their value. Yesterday, things looked even more grim and there wasn’t even the tiniest of margins for a profit. The loss for the full day amounts to around 18% which means that the ticker currently stands at $0.10 per share.
Still, even at that price, DOMK‘s market cap amounts to around $4 million which is not that much, but what exactly are you getting for your money?
As we wrote in our previous articles, not much. Here are the financials according to the 10-Q for the period before February 28 once again:
- cash: $5 thousand
- current assets: $75 thousand
- current liabilities: $819 thousand
- quarterly revenue: $1,396
- quarterly net loss: $5.7 million
- accumulated deficit: $40 million
Those figures are more than enough to scare most investors away, but the more adventurous among you might trust DOMK‘s management and they might really think that this is just the beginning of the sales for the infra-red, game-changing mobile phone and tablet charger and that from here on, things will just get better and better. Well, there are some doubts about that.
The first of which can be found on the IR Charger website. When you go there you see some pictures of the contraption, you see how much it costs and just when you think that you can buy it, you are left with a pre-order form in which you fill in nothing but your name and your email. After you’ve done that, all you can do is wait and hope that one day DOMK will be ready with it and you will be able to top up the battery of your handset without inflating the electricity bill. From an investors’ point of view, there is an even bigger problem – DOMK are keeping pretty quiet about the launch date and although we’ve read through quite a lot of press releases, we couldn’t find any signs of a deadline being set for the marketing of the gizmo. That said, having in mind the figures above, we reckon that the iPhone and iPad users will need to wait for a while.
You might be thinking at this point – “If that’s the case, where are the revenues coming from?” – and that is indeed a fair question. The IR Charger hasn’t been DOMK‘s sole business. They also had another subsidiary called Barefoot Science – a company that has spent 15 years developing “game-changing” rehabilitative insoles. As you can see, however, the sales were not that brilliant which is why DOMK announced on May 28 that they’re planning to ditch Barefoot Sciences altogether.
What does that mean? Well, there is a chance that they will manage to decrease the colossal losses a bit, but unless they pull out a miracle, they will come up with a financial report in a couple of months and it will have a big rounded zero in the revenues section. Then there’s the question of profitability – something that has so far been nothing but a mirage.
Until DOMK manage to prove that they really are a solid company and that they can come up with a product that will get people excited, the price will continue to go down and the stock will continue to get touted by numerous paid pumpers. The results of all the promotions are clearly visible on the chart and that is why we would advise you to be extremely cautious when considering this particular ticker as an investment alternative.
