Finding good penny stocks to trade, especially in the summer months, is a task very few are willing to take on. Those who accept the challenge find themselves perfecting their “tricks of the trade” by tweaking their scanners, getting more involved in their private chat rooms, and, what’s proven to be a big payoff with Direct Equity International, Inc. (OTC Pink: DEQI), scanning the OTC Markets for recent filings so as to attack a ticker before anyone else gets wind of it. Although the filings which came out towards the end of yesterday’s trading session showed only two items which could be considered catalystic for DEQI stock, getting ahead of the crowd, instead of betting on a maybe, paid off big and might continue to do so into today’s session.
Direct Equity International, via their subsidiary, Cyberworld Studios Inc., announced to the world in November of last year that they were investing in the online social gambling market by partnering up with a U.S. game developer. Knowing the social gambling market is a multi-billion dollar one, not a peep has been mentioned since then or about Actua, a social poker game that is featured on Cyberworld’s website.
The filings released near the end of yesterday’s trading session revealed why nothing has been mentioned in over 8 months. The bare boned financials showed no revenues whatsoever and an expense report which looks like they are simply keeping the company on life support, yet two items did reveal a glimmer of why DEQI stock could be used as a momentum play.
Within the liabilities section of the balance sheet, the only increase from $264,996 on December 31, 2014 to $266,119 March 31, 2015 came in the form of accrued interest due. Without any shares of DEQI stock issued during the period(s), the disclosure of insiders owning 263 million of the 428.45 million outstanding shows a float of 165.45 million which some would consider is low enough to flip for.
Seeing current filings, albeit weak in terms of professionalism and details, shows a small sign of life, enough of which allowed for DEQI shares to spark interest in some of the better grind traders. Closing the session just barely off the HOD indicates that there’s a good chance the momentum could continue on into today’s session.
It would be significant for DEQI and it’s chances to really run if the company were to provide an update about Actua. Their website states that the “social poker game that plays as fast as the best-in-class, offers the full range of poker functionality for credibility and provides the same great features. The core code has been running on test at Amazon’s EC2 servers since early 2013 without any server re-starts (implying robust, bug-free code), extremely fast response (compared with all other major poker games on Facebook) and minimal bandwidth / disc traffic (for low overheads).”
The world needs another social media poker game likes it needs a hole in the head, but a sign of progress in bringing their developments to market could provide for the spike Freeze Tag (FRZT) showed each time it mentioned its games and the iWatch.
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