To continue this series of WTF is this company....
I was reading the 10-K filed on 2/12 that preceded the spike in trading. I do not recommend doing that.
Why the fuck that form caused an increase I have no idea. I have a feeling this type of thing is common in OTC shells because it's the wild west, but this company is basically a consultancy agency, Qest, led by 2 people, working as consultants with the registrars of this shell company, which is the same two people.
So shell company person A is the same as Qest consultant person A. Shell company person B = Qest consultant B.
Reading the filing is just accountant speak for someone shaking their own hand about a billion times on paper. my head hurts. It's like 4 Jerry Smiths from Rick & Morty talking to each other.
Shell company has done nothing but get billed by consultant company and offer stock as payment because, you know, they have zero revenue or cash on hand. only accruing debt while doing all the filing paperwork. The short term stated mission is literally go hire some people to run this thing so we can gtfo. Expected by Feb 2022.
The office address listed is the same as Qest. In the 10-K is even says that space is rent free and the registrars work from home.
And googling the two people involved, and/or the previous companies cited in their bio's, comes up with zilch.
But somehow this company is trading at half the value of RXMD, a stable, known, 40 million a year and growing medical business.
edit: Decimal places are important. NVM
Fucking pennies.
Oh but they have a twitter and have 1 tweet as of this writing!
it should be obvious but this is why you don't blindly trust twitter unless you're Blotto, that's been working out well there
(disclosure: I bought some earlier today before I started this adventure.....)