Todor Pichurov

Rising India Inc (OTCMKTS:RSII) Makes Waves

by Todor Pichurov February 19, 2016

In yesterday's session Rising India Inc (OTCMKTS:RSII, RSII message board) shifted heavy share volume of 62 million shares. The stock put on a massive 44% on Feb 17 for no apparent reason. Yesterday that climb was wiped in half, with RSII managing to stay on the bottom end of double zeroes, at $0.0011.

The company did put up a press release yesterday, after the 44% spike. RSII announced signing a letter of intent for the acquisition of a certain TomCat Films. Given the fact that this is mostly press fluff and is presently at a “letter of intent”, aka a non-binding stage, it's obviously too early to get excited about anything.

Every possibility of getting excited about RSII is largely thrown out of the window when a hopeful investor takes a look at the company's latest public filing. RSII is a pink sheet that does not file with the SEC, so the latest submission is a Q3 report. The figures in that are as follows:

  • ZERO in cash
  • ZERO in total company assets
  • $1.2 million in total liabilities
  • ZERO in revenues for Jan – Sep 2015
  • $91 thousand in net loss for Jan – Sep 2015

Those figures hardly need any further comments.

The website provided on the company's OTC profile page is dead. There is another website for Rising India Inc, stamped with OTC:RSII that claims the company is developing “senior living communities”. The front page of the latest filing mentioned above states that Rising India is a “restaurant holding company”. If you're feeling a little lost here, it's probably not your fault.

RSII has been bouncing with quite a bit of volatility in both directions, with no real news coming out, and actually sank 15% when the news did come. Bearing in mind both this volatility and the financials in the latest report, investors would be wise to exercise caution.

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