Nyxio Technologies Corp. (OTCMKTS:NYXO, NYXO message board) opened with a huge gap up after its latest reassuring PR hit the web on Friday, but managed to lose all the ground it had gained and then some soon after and ended up finishing the session 32.50% in the red.
If the announcement is to be believed,NYXO is the greatest thing since sliced bread. It used a heap of long and fancy words such as “growth and evolution”, “keen ability to redefine itself”, “rapid development and expansion” and “diversification”. But what is really hidden behind all these impressive expressions?
Not much, a bit of digging reveals. The company’s quarterly for Q3 2014 paints a sad, sad picture:
- Cash – $3377 (NUMBER NOT IN THOUSANDS!)
- Total current assets – $19 thousand
- Total assets – $28 thousand
- Total current liabilities – $1.3 million
- Revenue – $5.6 thousand
- Net loss – $4.6 MILLION
True, most of the net loss comes from “Shares and options issued for services – $3.9 million”, but that does not change the fact that the other numbers are still hardly something to brag about.
And bragging seems to be just about the only thing NYXOcan do. A PR that proudly proclaims that its subsidiary “Play Gig-it’s partnership with TopFan… would enable them to create custom mobile applications for over 175 artists and celebrities“.
That sounds impressive, until you remember that not too long ago, the company was forced to report that it had little more than $3 thousand to spend.
Such things tend to ruin one’s credibility. It certainly gives reason for doubt about the whole “2015 launch campaign” that NYXO is trying to push right now.
In this case, investors would probably do well to do some serious due diligence and not blindly trust in PR if they value their money.
