Georgi Kamburov

Exlites Holdings International, Inc. (OTCMKTS:EXHI) Suffers Another Crash

by Georgi Kamburov August 16, 2013
EXHIchart.pngExlites Holdings International, Inc. (OTCMKTS:EXHI, EXHI message board) made its debut to active trading just this week when on Monday it took the market by storm trading more than 20 million shares. Such a massive interest was to be expected though when around 50 different alert emails were sent out touting the company on the very same day. Sadly for all the investors who decided to buy in because of the hype the stock has been going nowhere but down.

In early trading on Monday when most of the volume was generated it surged up to $0.21 but it quickly retraced it steps and closed at $0.077 only 18% above the previous close. The next day was a disaster when EXHI crumbled 60% down sliding well below the starting price of the pump. And finally, yesterday all those who still had a stake in them suffered another blow when 14 million shares were dumped on the market resulting in a 30% lost and bringing the price per share to just 2 cents.

All throughout the week the hype mill has been working on full power with new pumpers joining in. TooNiceStocks by far took the biggest portion of the distributed money pocketing $250 thousand. Penny Pick Finders and Penny Stock Prophet are among the new additions for the sum of $30 thousand. For just half of that Hero Stocks and Stock Hunter have also sent out a wave of emails.

The company itself has also been quite prolific issuing 4 PR articles in a little more than a week. Nothing too substantial could be gleaned from them about their business operations that's why we turned to the quarterly report for the period ending April 31. Back then EXHI had:

  • $9700 cash 
  • $14 thousand total current assets 
  • $136 thousand total current liabilities
  • ZERO revenues 
  • $7500 net loss

Not exactly the best of financials for a company claiming to be offering cutting-edge, cost effective medical equipment. The curious part is that according to the report EXHI had 20 million outstanding shares and a float of less than 2 million. We reckon that some serious dilution must have happened since then looking at the traded volumes from this week.

BLUFchart1.pngEXHI is down 75% in just four days so traders should be extremely careful when playing the stock. Yesterday Soul and Vibe Interactive Inc (OTCBB:SOULD) returned back to the OTCQB tier after submitting a notification of late filing which gives them another 15 days to finish their quarterly report. For now the stock seems to have stabilized around $1.95 and its next direction may be determined by the new financial results disclosed by SOUL.

Bluforest, Inc. (OTCMKTS:BLUF) regained some lost ground when they closing at $1.36. The massive pump that has been trying to boost their performance might be nearing its end with less and less touts being send each day.

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