Having no assets at all – nil – and no history of revenues means nothing for a penny stock as we saw Friday when shares of Cassidy Ventures Inc. (CSVN) jumped nearly 80%. After recording $3,121,457 worth of volume, all after 1:30PM on Friday without any indication as to why, the long 3-day weekend has most traders thinking CSVN stock is the next pick, due to come out on Tuesday, for the groups better known as Awesome Penny Stocks. Although the management team doesn’t seem to have a history for mining on their resume, how many are really going to ask questions about a property located way up in Northwestern Ontario.
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CSVN Stock Quote
|Close||2.49||Change (% Chg)||+1.1000 (+79.14%)|
|14-Day Rel Strength||63.37%%||Market Cap||$336.15M|
|52Wk High||4.50||52Wk Low||1.02|
When you start to dig into what makes up Cassidy Ventures, what you stumble across is a promoter friendly set up done by Thomas E. Puzzo, Esq. back in 2011 that has already done their 20 for 1 forward stock split. No assets to show of to back their concept of exploring the mineral claim, the Mobert property,that the Company, back in 2011 paid $5,888 to Kelvin Michael Ladoucour, a prospector retained by the Company who held the claim in trust.
On the surface, that’s what still appears to be the business plan for Cassidy Ventures since it’s the only topic on the Q filed for the period ended September 30, 2014. Along with no real changes to the plan, assets worth $0 and liabilities of $352,809 fill up the vacant balance sheet of this now $336 million market cap company.
However, a deeper look at the only 8K ever filed (July 3, 2013), William Drury was appointed as a director of the Company and he immediately took on the role of Secretary and Treasurer and Keith Fredricks as President. The two currently the President and CEO positions, respectively, at General 3D Corp., a claims it hosts live and on-demand 3D stereoscopic videos and information about stereoscopic 3D through its 3DF33D.tv website (website is for sale at the time of this posting for $377).
According to the General 3D description, 3DF33D.tv will allow users to produce individual 3D stereoscopic broadcasts using a wide range of 3D camera systems, from inexpensive 3D webcams to high-end stereo camera systems. In addition, 3DF33D.tv will host long and short form movie, television and user generated content on-demand.
So as that certainly can make for an interesting PR play for CSVN stock, the float of what appears to be just under 25 million shares could be a gold mine for those who seeded it. Before splitting the 6,750,000 shares noted on the S-1, 1,750,000 were held by non-directors with the exception of 50,000 shares. The Company raised a total of $47,500 from private offerings of their common stock, $5,000 of which was from the directors, hence the cost per share, pre-split, was $0.024 per share. Those are now 35,000,000 shares after the 20 for 1 split at a cost of $0.0012 per share, a gain of $2.488 from Friday’s close.
3D technology to come or not, with that much profit to be made by the S1 seed shareholders, how can you not list CSVN as one of the Awesome Penny Stocks.
For those unfamiliar with the story, Awesome Penny Stocks was started by a group of guys after the head of the group should the success he gained after graduating from being an iHub message board pumper by starting XplosiveStocks in 2008. APS, as they are better known as, brought traders the chance to make insane fortunes from their tickers, the 2 biggest being from around 3 years ago – NSRS and SNPK.
The past year though has been a rough one with charges, suspensions and even the middle of the night closing of their favorite law firm for shell corps really impacting, not only their chance to have 30-40 trading session runners, but how the entire penny stock market has failed to really see massive runs anymore. Sure, we uncovered CYNK last summer before all of the large media companies began broadcasting about it and the dishwasher who was CEO, but with CSVN, there isn’t much difference between a guy that gets you clean utensils to eat with and a couple who have a technology that will never get off the ground.
Is CSVN due to be the pick issued by Elite Penny Stock and their long list of affiliate sites? You’ll know on Tuesday shortly after the opening bell.
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About CSVN Stock
Cassidy Ventures Inc. is a development stage company with no operating history since inception.
Click here to view the SEC filings for CSVN.
Issued and Outstanding: 135,000,000
Last 5 Trading Sessions:
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