What Is The Buzz Surrounding Radiant Creations Group Inc (OTCBB:RCGP)?

Radiant Creations Group Inc (OTCBB:RCGP) managed to surge 47.06% on last Friday, in spite of no news but a bit of hype working for it. The last Friday jump was the company’s fifth staggering rise in the past two weeks. It is an amazing achievement, particularly in absence of news and filings.

The financials

Radiant Creations reported cash of $4,000. The current assets came at $491,000 and the current liabilities at $1.7 million. The quarterly revenue was $69,000 and net loss was $1.4 million. The numbers are dismal and considering them it is justified for the stock to trade in triple zero land for so long.

Share structure

Apart from the financials, the other disturbing part is the company’s share structure. As of now, there is no reliable data on stated share structure. The OTC marketplace profile of Radiant Creations list the outstanding shares count at 36.2 million, as of October 20, 2014. However, considering the volume of 30 million shares recorded on last Friday, the number seems inaccurate. It is more likely especially when there is evidence that almost 20 million shares were issued for debt conversion between January 2014 and January 2015 at astonishing discounts that reached 40%. It is important to mention that the company recently upped the count of authorized shares to 900 million.

The takeaway

On Tuesday’s trading session, the share price of Radiant Creation declined 41,.43% to close the trading session at $0.0041, making the total decline from the high mark of $0.01 come at 59%. The shares traded volume was around 57 million which is ever greater than the count of outstanding shares. As of now, the broader picture of the company doesn’t looks so rosy and promising. It was evident when the stock price posted loss of 8.54% in last trading session to close at $0.00375 with share volume of 8.83 million.

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