What’s Wrong With Marilynjean Interactive Inc. (OTCMKTS:MJMI)?
Marilynjean Interactive Inc. (OTCMKTS:MJMI) added another 11.85% to its market value yesterday, crossing well over the $3 threshold. So what’s wrong with this picture?
Go to the company’s OTC markets profile page and look at MJMI‘s market cap. The number written there is $523.5 MILLION.
So what has MJMI done to deserve a market cap this high? Well – nothing, it seems. It has done nothing and as far as due diligence is concerned, this market value is completely unwarranted.
One look at MJMI‘s latest financial report shows us that its achievements to date are not simply mediocre – they are virtually nonexistent:
- cash – $5 thousand
- total current assets – $8 thousand
- liabilities – $198 thousand
- NO REVENUES
- net income – $1676
What’s even more confusing is the fact that, no – this ridiculously, outrageously overblown market cap does not appear to be the the result of a paid pump campaign targeting the ticker. In fact, there doesn’t seem to be ANYTHING pushing MJMI up at this point in time at all – and yet up and away it goes.
And if MJMI‘s financials weren’t depressing enough in and of themselves, get this – three years ago, the company sold 42 MILLION units with common shares for $0.01 each. About half of those were eventually canceled. The other half were not. Punch those numbers into a calculator to see how much of a profit the people who bought those units back at the time will make if they dump them on the market today.
That just about scratches the surface of the topic of “what’s wrong with MJMI‘s current situation”. Readers are wholeheartedly advised to take our warnings into consideration and be very careful when dealing with this stock.
There is obviously money to be made trading MJMI – this has been proven time and time again. However, investors should only attempt doing so after familiarizing themselves with all the risks of the current situation.