Limbo Anyone? How Low Will it Go?
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No, I am not really going to talk about a Limbo game. I am referring to the stock of a company promoting hybrid appraisals across the country. Representatives of this company are at every industry meeting, promoting their products, often times invited to speak.
You are probably sick of hearing about hybrid appraisals by now and honestly, so am I. So I will keep any verbiage about hybrids in the context of reference only and try not to bash them too much.
If you are regular reader of Appraisersblogs, you probably have seen many articles about Clarocity Corporation. A quick search shows Clarocity being talked about on Appraisersblogs since June 2014.
There have been stories about appraisers not being paid, stories about Real Estate Agents not being paid, stories comparing Clarocity to AppraiserLoft, a story showing the multi-million dollar losses each year since 2008. Let’s not forget about the high interest rate loans that had to be bought down to 24% because the initial interest rate exceeded the cap allowed in Canadian statute or the repayment of the loans in shares of stock. Certainly you have seen the warnings to watch your receivables if you do work for this company.
Well let me tell you, it has been a long slow ride for Clarocity. Each week, a new record low is set for their stock. Stock prices are currently at $0.015 per share ($0.011 USD). How low must the stock be before Clarocity is removed from the exchange? Caloricity’s future is looking dimmer and dimmer each day. Even the investors talking on the Bull Board are saying it is over.
What is extremely concerning about the demise of Clarocity is they are the strongest promoter of hybrid products and this is their second go around. Remember ZAIO? They rebranded as Clarocity.
So here are the questions that need to be asked?
- If the hybrid product is so great and revolutionary, how can the company behind them be in such trouble? Even with bad management, (which there is) there would be more success than $0.011 USD per share. At the very least, someone would have an interest in purchasing them and they don’t.
- Was there ever an investigation into AppraiserLoft? Should there be one into Clarocity?
- Is a classic shell game being played on their investors?
- Why is Clarocity on the Canadian Exchange when they advertise the majority of their business is in the United States?
Make you own decisions on how to proceed. If you get left with unpaid invoices you have no one to blame but yourself.
By Fed Up Appraiser