Golden Star Enterprises Ltd (OTCMKTS:GSPT) has rarely seen strong movement for quite some time now. The stock has failed to fetch the investors’ attention as it closes most of the trading sessions with barely any movement. On April 6, 2015 Golden Star stated that they have acquired 100% stake in North Amerian Drones Enterprise Inc. Almost 38 million restricted common shares were issued in order to finalize the deal. It was as per the expectations as the company is in a dismal financial condition.
As per the latest financial report, Golden Star had cash of $1,428. The current assets stood at $6,264 whereas the current liabilities came at $214,593. It reported annual revenues of $47,534 while annual net loss was $212,801. The financial numbers do not represent a healthy picture of the company especially when it has market cap of over $5 million. The report even forces to question what are the management plans to carry out its operations. The management clearly doesn’t seem to take any major action that is evident by lack of press releases pertaining to its development plans.
Since the year started, Golden Star issued a single press release and strangely enough it was also a result of a paid promotional campaign. The promotions commenced after the trading session ended this Monday. The promotional emails were being circulated for couple of days. The compensation paid for the first day of campaign was close to $1100 while the touters on second day received $3,000 for their efforts.
The stock of Golden Star Enterprises Ltd (OTCMKTS:GSPT) has been moving on its own and has failed to catch investors’ attention. It seems that the pump together with the press release have succeeded to instill some curiosity in the investors. In last trading session, it eroded some of the recent gains and declined more than 11% to close at $0.0890.