Valmie Resources Inc (OTCMKTS:VMRI) is a stock that’s been ranging sideways for the better part of the past several months. But that pattern broke on Thursday in what appears to be a serious technical breakdown. We say this because we can find no press releases or filings or dates of record. But we do see a breakdown under a long-standing shelf of support as well as the widely watched 200-day simple moving average.
Traders will note better than -20% drained out of share pricing for the name in the past week, but this situation may be worth watching. VMRI is a stock who’s past is littered with sudden rips. In addition, the name has registered increased average transaction volume recently, with the past month seeing 16% over the long run average.
Valmie Resources Inc (OTCMKTS:VMRI) bills itself as a drone play that focuses on providing unmanned aerial vehicle software, hardware, and cloud services for a range of commercial applications worldwide.
The company offers aerial data collection hardware, software, and data storage solutions. It develops Autonomous Intelligence for Mobilized Devices (AIMD) Platform as the intersection point for real-time operational intelligence and workflow accessible anywhere and anytime; and AIMDx that enables clients to connect, communicate, and collaborate within a cloud-based network.
The company is also developing V-1 Drone, a multi-rotor unmanned aerial vehicle, which meshes with the Company’s overarching conception of itself as actively pursuing opportunities for the commercialization of leading edge products and services in the rapidly expanding technology industry.
VMRI pursues an identity as an incubator as well, with valid business models positioned to make a significant impact within the four key “mega sectors” of technology: software, hardware, networking, and semiconductors.
The value-add, they maintain, is in bringing operating talent, tools, and leadership to emerging companies in these sectors, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value.
Valmie went public on January 20 of last year after a reverse merger. The shell was originally incorporated in 2011 as a Nevada-based materials sector play.
According to company materials, “Valmie Resources is a U.S. company actively pursuing opportunities for the commercialization of leading edge products and services in the rapidly expanding technology industry. Valmie seeks concepts with valid business models positioned to make a significant impact within the four key “megasectors” of technology: software, hardware, networking, and semiconductors. Valmie brings operating talent, tools, and leadership to emerging companies in these sectors, promoting industry awareness and developing economically sustainable partnerships while increasing shareholder value”
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The company did recently return from visiting the University of Kentucky to “discuss collaborating with students and faculty members on portions of its upcoming unmanned aerial systems (UAS) projects. The Valmie team met with heads of the Biosystems and Agricultural Engineering (BAE) Department and toured the facilities of the university’s Unmanned Systems Research Consortium (USRC).”
“Valmie feels privileged to meet with the dynamic faculty and students from BAE who are serving and benefiting the people of the state of Kentucky with engineering expertise for solving contemporary challenges,” said Gerald B. Hammack, President and CEO of Valmie Resources. “Based on these meetings, we are moving forward with developing a proposed package detailing possible ways Valmie might collaborate with BAE and USRC to develop resources for its upcoming UAS projects. We expect these projects to ultimately benefit the UAS industry by adding technology and innovative solutions.”
At this time, carrying a capital value in the market of $53.8M, Valmie Resources has almost no cash on the books, in a pool of total assets a bit over $240K, which is balanced by an extremely limited amount of total accumulated debt.
If you put faith in the market as an information processor, then technically significant changes should be respected. That may be food for thought for current VMRI stakeholders, who have already ridden through a lot of investor awareness activity in this stock over the past 24 months. For continuing coverage on shares of $VMRI stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!