After a period of steady climb, Gold Coast Mining Corp. (PINK:GDSM) is on its way down the chart showing no signs of slowing down. How long will this free-fall take is anyone’s guess.
Last Friday, GDSM went down 17.57%, its fourth fall out of the last five sessions, to a three-week low of $0.0061 per share. More than 30.48 million shares of common GDSM stock changed hands by the end of the session, well below the average volume of 38.7 million.
GDSM has not issued any updates for the last twelve days. Nor has it been promoted. That is why, investors could hardly expect any surprises in GDSM’s performance today. As seen on the accompanying chart, GDSM is on the verge of going below the MA(50) line. Needless to say, it will take action rather than inaction to trigger a reversal of the trend.
GDSM’s latest quarterly report paints a rather bleak picture of its finances. The company has no current assets whatsoever, while its current liabilities exceed $800 thousand. Zero revenue and a net loss of approx. $15 thousand complete the picture.
