The share price of TimefireVR Inc (OTCMKTS:TFVR) has risen to levels that have the market shocked.
During the past three days, the company shook OTC markets by a share price surge of nearly 400%, one of the highest share price surges over such a period. The price rose from lows of about $.03 to highs of $.185 over the three-day period but closed yesterday at $.135.
Furthermore, despite the shares not being traded before this, the past three days have seen a total of about seven million shares traded, a move that may have acted as a catalyst for the share price surge.
Readers can view the share price action in the chart below:
The above surge has aroused the interest of investors. As such we decided to take a look at the company’s value proposition and establish how viable it is both in the short and long term.
This piece goes to stipulate our analysis of this proposition.
Before going into the analysis, however, let us first have a look at the company’s history.
TimefireVR was formed back in 1984 and incorporated in Scottsdale, Arizona.
Back then, the company was engaged in the angel investment business whereby they would target unique, promising technologies that they believed would have an impact on both growth and profitability. They would then incubate these enterprises and utilize these technologies to ensure that their initial vision came to fruition. This outlook had led the company to the virtual reality space back in June last year through the acquisition of Timefire LLC. They had then released Hypatia, their first comprehensive virtual reality platform.
Things have since been augmented.
With the emergence of Blockchain, the company has changed their strategic investment and moved into this. They are currently working on investing in this space, and the impact of this on their value proposition has been enormous as their share price has proven.
The company currently has an over $3.5 million market capitalization and has hired over 30 employees.
The year 2018 begun with a significant announcement from TimefireVR Inc.
Their management team had decided to change their strategic investments and align them towards the most disruptive technology in the current market: blockchain.
They began by announcing that they had sold off all of their Virtual Reality assets and that their corporate focus was now on the blockchain. Furthermore, they appointed a new Chief Executive Officer, Mr. Jonathan Read -also a director in Blockchain Technologies Consumer Solutions company- to serve as the company’s Secretary and Treasurer.
The company stipulated that despite their success in the virtual reality space, the investment in the blockchain space would have a more positive impact on their value to shareholders. Moreover, given the experience of the new CEO in the blockchain, leveraging on this would be beneficial to them as they work at venturing into an entirely different market.
Their focus by then was mainly in Ethereum, specifically its smart contracts function and decentralized applications. A few days later, they cemented this focus.
On 9th January, the company made good its announcement by finally announcing that they had settled on investing in Ethereum.
Furthermore, they stated that they were in different stages of reviewing and assessing their acquisitions and investments in initial coin offerings, blockchain software as well as mining other currencies, words with were underscored by their CEO who stated:
“It is our intention to have a balanced operating business portfolio complimented by investments in cryptocurrencies. By diversifying and managing our risk portfolio, we are confident in our ability to succeed in creating strong shareholder value in cryptocurrency and blockchain technology.”
Through this, the company had finally set its foot into the over $700 billion industry. The outcome from this: growth.
Their venture into this space would see their share price rise from below $.05 to $.18, a surge that, going with past trends, is typical for companies that choose to venture into the cryptocurrency space. The cryptocurrency flame seemed to have lit the company as their value proposition was finally visible as was their growth courtesy of its association with blockchain.
The technology has grown by leaps and bounds over the recent past with the market capitalization of cryptocurrencies rising from $1.3 billion in 2013 to over $700 billion in 2018.
With such explosive growth, any company associated with this has benefits mainly from a share price surge. Furthermore, their value proposition has also been seen as the market is now more transparent and visible both to investors and technology experts unlike before.
With this being said, TFVR has ventured into the right sector and at the best moment in time. The industry is enjoying rampant growth as are the companies associated with it. However, their growth will be based squarely on their ability to implement the promises they have made to the market.
All in all, the company is on a growth path. We remain bullish about their stock price.
The past saw the financial performance of TFVR fall slowly through the quarters.
Their most recent performance showed a dip in their revenues which fell to $340 from $488 in 4Q2017 and 3Q2017 respectively. Their net loss further stood at $328,233 over the fourth quarter.
However, the above was associated with the strategic shift as well as the sale of their virtual reality assets over the past quarter. The company envisions these positions rising into the future and that soon they will be dominant players, both financially and technologically.
TFVR has finally set its foot into blockchain. With their share price going up in a frenzy and their vision being carried by a strong team, the future is bright for TFVR.
We will be updating our subscribers as soon as we know more. For the latest updates on TFVR, sign up below!
Disclosure: We have no position in TFVR and have not been compensated for this article.
Image courtesy of BTC Keychain via Flickr