Let's put it this way. There is no discernible reason why investors should be encouraged to invest in Global Business Markets, Inc. (OTCBB: GBMI), a company that has had more name changes, and management teams, than revenues. Update: Global Business Markets, Inc. (F/K/A Christine's Precious Petals; F/K/A Sunshine Ventures ; F/K/A Core Solutions, F/K/A Premier Axium ASP ) – Baking Up A Storm.
The latest financial report from this Company offers no suggestion that a credible business plan, or material revenues, are on the immediate – or distant - horizon. In its Form 10-Q financial report for the quarter ended September 30, 2003, Global Business acknowledges that it has no current assets and no revenues.
Yet, despite the absence of any operating business, and utter lack of funds, the Company paid almost $5.5 million in consulting fees for the three months ended September 30, 2003, by issuing stock in exchange for consulting services.
No word on the Company's plan to enter the "Juice and Smoothie Bar" business. Based on these latest financials, however, management couldn't even afford to buy a smoothie.
All of this may leave investors – and regulators – wondering why volume for Global Business shares has been so brisk in recent weeks. Since December 1, 2003, almost 200 million Global Business shares have been traded. Even at its current price, around one tenth of a cent per share, this hardly appears to be an attractive buy.
Unless, of course, investors are attracted by the simple balance sheet – lots of zeros.
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