GNCC Capital, Inc. (PINK:GNCP) is still very early in its development and isn’t traded very actively, but in the last several sessions volume has gone up.
Yesterday GNCP closed up 69.01% at 12 cents per share, and the volume reached 451 thousand; according to FINRA’s file, 182 thousand were sold short.
Moves in GNCP trading at this point are mostly speculative. The company hasn’t released any news, and the latest report available is an annual for the financial year ended Sept. 30, 2011.[BANNER]
The report in question shows the company had no current assets, whatsoever, and about $40 thousand in deferred compensation to account for all of its assets.
At the same time, GNCP reported total current liabilities towering up to $17.9 million; $16.7 of those in convertible loan notes payable.
The company’s website says it is in the process of being amended and verified. It also says the final version should have been available on Dec. 7, 2011. The company may want to provide traders and shareholders with some sign of life. Otherwise, a stable active market is highly doubtful.
