Borislav Tonev

3D Makerjet Inc (OTCMKTS:MRJT) Springs to Action

by Borislav Tonev April 4, 2016

3D Makerjet Inc (OTCMKTS:MRJT, MRJT message board) became public a while ago. It was originally called American Business Change Agents Inc and its idea was to provide small companies with business and consulting services. As it often happens in Pennyland, the plan never really took off and the company was forced to make some changes.

In September 2014, there was a reverse merger which was accompanied by a change in control and a new name and trading symbol. Overnight, MRJT was transformed into a seller of 3D printers and accessories.

The people at the helm are trying hard to prevent another failure. Last week, for example, they said that they've used their brand new human-sized 3D scanner to scan Michael Pinera, former guitarist of Iron Butterfly and Blues Image. They also encouraged everyone interested to go to the company showroom in Orlando, Florida and have a look at all the amazing devices for themselves.

We have no way of knowing whether there's a line of excited people outside the showroom, but we can see that there's more and more investors interested in the stock. Five consecutive green sessions resulted in gains of about 27% and a close of the week of just under $1.85 per share. The volumes were also quite significant which means that plenty of people have already put their money on the line.

Those people probably haven't seen the latest 10-Q. It covers the three months ended January 31 and it looks like this:

  • cash: $663
  • current assets: $51,264
  • current liabilities: $834,920
  • NO quarterly revenue
  • quarterly net loss: $506,904

The people who jumped in last week probably don't know that at the end of January there was about $775 thousand worth of debt convertible into common stock at a fixed price of $0.001 per share. They probably haven't seen the older filings as well.

If they had, they would've found out that in 2011, when MRJT was still known as American Business Change Agents Inc, the company issued 1.2 million shares in exchange for services. They would've also found out that in 2014, a 26-for-1 forward split turned those 1.2 million pre-split shares into 31.2 million post-split ones.

Some of the people who jumped in last week might have also unintentionally ignored the fact that currently, MRJT's market cap sits at a whopping $240 million. Those people should think hard and decide for themselves whether the company deserves this valuation based on the facts and figures above.

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