Public Company Puzzler: Global Holdings, Inc. (GOHG.OB)
Forbes Magazine has a tradition of pointing out publicly traded companies with no revenues or assets and with unusual market values. I stumbled on one today, Global Holdings, Inc. (GOHG.OB). The company has no revenue, no assets, and no particular line of business that I can see, but has a market capitalization of $9 million. I guess having a current 10-K filing and having met all the public filing requirements is worth something…?
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May 3rd, 2010 at 11:56 am
The market cap is misleading. I don’t know how many shares traded at the $0.05 last trade price or when that trade took place. Though I don’t think historical trading information is available for bulletin board stocks, I would presume that this stock has extremely low volume, even by penny stock standards. I would guess that any bulletin board trades were very small trades by penny stock speculators. I would not consider the $0.05 per share value to represent a reliable estimate of either intrinsic or fair market value. I’m pretty confident that the controlling shareholders would take far, far less than $9 million for the whole company.
May 3rd, 2010 at 2:17 pm
Thanks for the comment and the great points. Their annual report indicates a total of 46 shareholders. There appears to have been a speculative frenzy late last year followed by a whole lot of nothing…
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=GOHG&sid=0&o_symb=GOHG&x=0&y=0
It is amazing how many of these types of public companies exist!