A little over five months ago, eMONEco, Inc f/k/a Mascot Ventures Inc (OTCMKTS:EMON) was hovering rather comfortably above the $2 per share mark. Last week, it was sitting at just $0.15. It is moving up, though. A couple of green sessions pushed it back above the $0.20 barrier and at 25%, the gains yesterday were particularly impressive. The volumes have also picked up a little bit which might suggest that the ticker is in for a more sustained run. Then again, there are plenty of other things to suggest that it isn’t.
For one, the recent resurgence in interest towards the stock appears to be coming out of nowhere. Somewhat surprisingly, there are no paid promotions that could be pulling the ticker higher and, as we’ll establish in a minute, the SEC filings are nothing to write home about, either. As for the press releases, the latest one is dated May 20 which should give you an idea of how much it can influence EMON‘s movements right now, half a year later. There are no rumors, either which makes the whole run even more baffling. And quite dangerous.
Thanks to the recent price appreciation, EMON‘s market cap now sits at just under $14 million according to the OTC Markets. What will you get for your $14 million?
Well, you’ll get a company with a financial statement that looks like this:
- cash: $2,802
- total assets: $17,802
- current liabilities: $975,575
- NO revenues since inception
- quarterly net loss: $221,493
You’ll also get some unkept promises. In the 10-Q for the quarter ended April 30, EMON‘s management team said that they expect to start generating revenues in May or June, but it’s pretty obvious that they have missed this deadline. And while we’re on the subject of deadlines, in their latest report, EMON said that they should sign agreements with an international processor and a card printer before the end of the year. The clock is ticking.
Another delay could make some of the shareholders feel a bit uneasy. Others, however, probably won’t be too bothered if EMON fail to keep this promise as well. The people who bought a split-adjusted 24,180,000 shares for $40,500, for example, shouldn’t be too worried. All they will need is a little bit of volume (which we have seen lately) and they should have no problem walking away with the profits. You can read more about them in our very first article on EMON.