OSL Holdings Inc (OTCMKTS:OSLH) behaved as anticipated during the last trading session. The company did little to encourage shareholders’ through its recent SEC Filing, which was indicative of rapid share dilution taking place.
Issuance of stock
As per the filing, OSL Holdings Inc (OTCMKTS:OSLH) informed its stakeholders that it had issued nearly 32,889,185 shares of its common stock against the convertible notes held by its creditors. The issue of these shares happened within a month, which points to the length of share dilution. The company did not receive any funds or cash in exchange of such issuance. Further, the company also issued as many as 800,000 shares to its three employees as a bonus.
Though OSL Holdings Inc (OTCMKTS:OSLH) received some hype from an analyst report released by BrokerBank Securities last week, but the lift was short term. The report emphasized on the huge price appreciation and trade volume that the company amassed during the month of April. Further, the report claimed that the company’s recent progress in forming a joint venture with Cheryl Shuman will benefit it in its marijuana segment. The analyst report pointed that the company’s revenue in Q3 and Q4 hints at OSL Holdings Inc (OTCMKTS:OSLH)’s momentum. Overall, the report said nothing new but placed high bets on events that are already known.
Such projections failed to cover OSL Holdings Inc (OTCMKTS:OSLH)’s failure to come up with the 10-k filing, which is becoming a matter of concern for the company’s advocators. All that stakeholders’ need from the company is not big promises but a decent report, which instills confidence in them that the company is doing well. As far as the company’s last financial report is concerned, it was nothing but terrible, where the cash and current balance came in at $36,000 and $946,000 respectively. The company reported a net loss of $1.96 million then.
OSL Holdings Inc (OTCMKTS:OSLH)’s stock shed nearly 27% of its gains and settled at $0.0143 during the previous trading session, while it inched down further by 6% during the after-hours. The average volume of shares was recorded as 39 million.