Roadships Holdings, Inc. (OTC:RDSH) had an unimpressive promotional spike on Monday, and yesterday it dropped significantly lower.
At the end of the session one RDSH share was worth 35.71% less, or $0.045. The volume almost matched the 1.2 million from Monday, reaching a little over a million shares.
This development should have come as no surprise to anyone who did their due diligence. RDSH is a development stage short-sea and land freight company which didn’t generate a dime of revenue in 2011.[BANNER]
The recently filed annual report shows RDSH had no more than $231 cash and approximately $33 thousand total assets. While RDSH has been filing its reports with the SEC regularly, the company hasn’t announced anything to support an increase in the price of its shares.
Even at the current price the market cap of RDSH is about $13 million, which can hardly be justified by the business performance of RDSH, or the lack thereof.
All of this was publicly available information at the time of the paid pump, but it didn’t prevent the Monday market performance. Keeping in mind the condition of RDSH and the $5 thousand compensation, the pump did surprisingly well.
