RADI

Radiant Creations Group Inc (OTCBB:RCGP)Posts A Strong Session

Radiant Creations Group Inc (OTCBB:RCGP) managed to jump 47.06% on last Friday. There was no significant news that supported such a large move. In fact, it was the fifth time the company posted strong gains in the past two weeks. It is an impressive performance, particularly when there is no news, filings, promotions or press releases. Last trading session was no different as the stock price surged 5.26% to close at $0.00200.

The number game

Radiant Creations recorded $4,000 in cash. As per the last financial report, the current assets were $491,000 while the current liabilities stood at $1.7 million. It recorded the quarterly revenue of $69,000 and net loss came at $1.4 million. The financial numbers are poor and bearing them in mind it is absolutely justified for the stock price to tumble and trade in triple zero zones for so long.

Share plan

Apart from the numbers, the other concerning factor is the Radiant’s share structure. As of now, no reliable data is disclosed on stated share structure. As per the OTC marketplace profile of the company the outstanding shares number stands at 36.2 million. The count is as of October 20, 2014.

The reliability

The number seems dubious as the volume of 30 million shares was recorded on last Friday. It is more likely particularly when there is proof that close to 20 million shares were issued for purpose of debt conversion in between January 2014 and January 2015. The issuance was done at discounts that stand at 40%. It is vital to highlight that Radiant Creations Group Inc (OTCBB:RCGP) recently increased the figure count of authorized shares to as much as 900 million. Considering the momentum of stock in past few days, it is evident that share price has posted the total decline of around 50% from its latest peak of $0.01. The longer-term picture of the company doesn’t looks promising.

Related News

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyrıght 2015 traders350.com. All RIGHTS RESERVED.