As we're recycling some previous issues of Forbes, we're going to post some companies that have made the Forbes "Informer" page. These are all from 2008 with share prices from April 4.
MaxLife Fund Corp. (MXFD) (MXFD.OB) $17.25, Forbes said in late February the stock was up 1,000% to $12.90 for a $390 million market cap (700 times book value)! Forbes adds filings show nil revenues, losses and very few employees.
Tamm Oil & Gas (TAMO) (TAMO.OB) $2.46, Forbes in mid March said shares were up 23,000% to $2.30 equal to a market cap of $210 million (3,300 times book value)! Again, Forbes notes filings show nil revenue; a going-concern warning and only $74,000 in cash.
Language Enterprises Corp. (LNGE) (LNGE.OB) $2.00, Forbes said in late March the company's stock had risen 15,000% to $1.50 for a market cap of $150 million, but only $325 in stockholder equity! At present it is not clear the stock is even traded anymore and still PinkSheets.com doesn't have a warning label for Language Enterprises.
Showing posts with label Forbes Informer. Show all posts
Showing posts with label Forbes Informer. Show all posts
Sunday, April 6, 2008
Purple Beverage Co. (PPBV) (PPBV.OB) -- Forbes Informer
Purple Beverage Co. (PPBV) (PPBV.OB) is written-up in the April 7th Forbes magazine in "Colorful Detail."
Purple Beverage was previously called Red Carpet Entertainment before a recent reverse merger. Purple Bev boss Theodore Farnsworth reportedly acknowledges shares are "ahead of ourselves." Forbes notes shares of XStream Beverage Network lost 99.9% over a six-year period under Farnsworth.
On Friday Purple Beverage (PPBV) (PPBV.OB) closed at $2.85 a share. Yahoo Finance reports Purple Bev's market cap is $157.49 million. How about the $8.00 a share 52-week high? Does that mean PPBV was a $1 billion company??? PPBV has no warning labels on PinkSheets.com, but short interest is up 280% to 352,000 shares as of March 14, since the end of February. Still that's only about 1% of 31.7 million shares outstanding according to PinkSheets.com. Also, based on 31.7 million s/o and Friday's $2.85 a share close, that's a market cap of around $90 million and not $157 million as Yahoo Finance reports (and the $152 million reported by Forbes).
Split-adjusted shares of what's now Purple Beverage Co. have risen 49,000% in five months to a recent $2.95 and a $152 million market cap. That's 105 times the latest book value.
Purple Beverage was previously called Red Carpet Entertainment before a recent reverse merger. Purple Bev boss Theodore Farnsworth reportedly acknowledges shares are "ahead of ourselves." Forbes notes shares of XStream Beverage Network lost 99.9% over a six-year period under Farnsworth.
On Friday Purple Beverage (PPBV) (PPBV.OB) closed at $2.85 a share. Yahoo Finance reports Purple Bev's market cap is $157.49 million. How about the $8.00 a share 52-week high? Does that mean PPBV was a $1 billion company??? PPBV has no warning labels on PinkSheets.com, but short interest is up 280% to 352,000 shares as of March 14, since the end of February. Still that's only about 1% of 31.7 million shares outstanding according to PinkSheets.com. Also, based on 31.7 million s/o and Friday's $2.85 a share close, that's a market cap of around $90 million and not $157 million as Yahoo Finance reports (and the $152 million reported by Forbes).
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