Holiday Island Holdings Inc (OTCMKTS:HIHI) a budding small cap firm transforming to a real estate development entity reported that it is taking necessary measures to upgrade to a fully reporting firm. It is arranging for resources to commence the procedure to become fully reporting. The external advisors and management are working aggressively to initiate and conclude the upgrade which is anticipated to enhance stock liquidity and shareholder value
The buzz
Back in the month of May, Holiday Island released its first PR in a while and reported that the company is in the process of paying a considerable portion of its issued and outstanding stock. There are some major shareholders who have accepted to part with total of 280 million shares.
There have been many instances when the management team has reiterated that they want to reduce the outstanding shares which can add value to the shareholders. The affirmation from company’s management had failed to build any confidence in investors mind. Even last month, the stock price surged over 50% after the news but gains came on a share volume of just $11,000.
The indication
The indication given at that time by the stock momentum was weak, and it followed in next trading session as the stock declined and now is trading close to $0.00070. The efforts of people behind an outfit ‘OTP Group’ also failed. They were paid compensation of $20,000 by Stellar Media Group LLC, to promote the stock.
The six emails were sent by the outfit Damn Good Penny Picks followed by newsletters circulated by Stellar. Instead of moving north on the charts, the stock price has fallen miserably. The performance of Holiday Island Holdings Inc (OTCMKTS:HIHI) as reported in first quarter results says everything. The company reported zero assets, zero revenue, and current liabilities of $1.1 million and net loss of $2,000 in the quarter.
