HDS International Corp. (PINK:HDSI), formerly GMV Wireless, Inc., had a very active session yesterday. However, it is hard to say why.
HDSI hadn’t seen too much action before Aug. 10. Then on Monday, for no particular reason, 1.3 million shares changed hands and HDSI closed 175% up at $0.22. Yesterday, the stock closed 43.18% down at $0.125 on 4.8 million traded shares.[BANNER]
At this point, we can’t see any good reason for HDSI to be seeing this kind of action, much less be traded at this price.
Recently, on Aug. 12 the company filed its 10-Q for the quarter ended Jun. 30. The report shows HDSI had:
- $2.879 in cash to account for all its assets
- $223 thousand total liabilities
- no revenue and $24 thousand net loss
Apart from the numbers, the report reveals that HDSI “…plans to engage in the business of providing wireless Internet services (“Wi-Fi”), primarily to the hospitality industry.” This basically means that currently the company is engaged in planning, which is not a crime or a bad thing, it just doesn’t justify a $67 million market cap. It also doesn’t explain the recent market activity.
If anyone intends to trade with, or invest in HDSI, they’d better do some due diligence first, and make sure they know why they are doing what they are doing.
