SHARE

HDS International Corp (OTCMKTS:HDSI) filed Form 10-K with SEC stating that the auditors of the company have reported a going concern view on the consolidated financial numbers for the fiscal ended December 31, 2014. It implies that auditors have a substantial doubt that the company can continue as an on-going business entity for the next twelve months. There is need of additional capital to support the operations.

The need

HDS International have not generated any revenues since inception, and even no revenues are expected until it completes the development work of its website and source out customers to buy the products and locate suppliers for sell out its products. The management are of view that the technical aspects of the company’s website will be sufficiently developed utilize for operations sixty days from the conclusion of offering. There is a need to raise capital from sources other than operations. The only other alternative to raise cash as of now is investments by other firms in HDS International.

The updates

HDS International stated that the company is in the initial stages of new business operations. Over the next one year, the primary objectives include raising $600,000 to obtain an exclusive license to leading SirenGPS software. It intends to enter into deals with private and public entities to offer emergency management services. The company wants to apply for at least one grant opportunity from a U.S. State-sponsored or Federal organization. One of the important goals is to explore strategic distribution and technology deals that will support the adoption of emergency management solutions.

The performance

HDS International Corp (OTCMKTS:HDSI) stated that it didn’t generate any revenues since inception. The operating expenses came at $420,593 compared with $478,916 recorded in FY2013. The annual net loss stood at $607,819 compared to $570,433 in the same comparable period, a year ago.

In last trading session, the share price of HDS International declined 16.67% to close the day at $00100.

SHARE
Previous articleEcrypt Technologies Inc (OTCBB:ECRY) Appoints New VP of Product Development
Next articleDRONE AVIATION HOLDI (OTCMKTS:DRNE) Receives Order for Aerostat related Equipment
Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

LEAVE A REPLY