Digital Utilities Ventures, Inc. (PINK:DUTV) had been silent for a long time. It is listed on the Pink No Information tier and bears the Buyer Beware sign on OTC Markets. A press release on Tuesday gave the stock a boost.
Following the announcement DUTV bounced off of the bottom and scored a 1,100% increase to $0.0012; and yesterday it went up another 33.33% to a close at $0.0016. The volumes were 725 million and 562 million, respectively.[BANNER]
The press release is a sketchy announcement of the launch of the “First Open Source TV Network”. It’s not quite clear if the supposed network has been launched, or if it isn’t when it would be.
The announcement provides a link to DUTV’s website which contains vague information, and doesn’t even have the press release from Tuesday on the news page; doesn’t look good for a company that supposedly deals with Internet technology.
The company’s latest financial report looked disheartening with $228 in cash, $0 revenue, $1.8 million liabilities, net losses and more issued than authorized shares.
DUTV hardly provides enough information to the public, and that attitude may get in the way of a potential further price increase.
