Transfer Technology International Corp (PINK:TTIN) Gets Another Pump Wave
Transfer Technology International Corp (PINK:TTIN) has been pumped aggressively this month, and despite the utter failure those efforts have been, another wave or tout mails were sent the last couple of days.
The crash itself wasn’t a surprise. We tried to warn our readers of the pump job and the potential losses. The only surprise was that TTIN managed to close 5 sessions in the green before crumbling.
The company has been anything but transparent with its filings. TTIN terminated its registration with the SEC in December, 2012, but it hadn’t filed a financial report since late 2011. There are a few filings using the alternative reporting standard of the OTC, but just enough to keep the OTC Pink Current Information designation.
The latest available data is for the period ended September 30, 2012. At that point TTIN reported insignificant assets and about $2 million in liabilities. The number of outstanding shares (OS) at the end September was supposedly 877,581. The OTC, however, shows about a thousand times more – 887 million.
On Apr. 16 10.8 million shares of TTIN changed hands. That should help traders figure out which number is correct.
So far today, TTIN has been moving around Friday’s close, but with so little solid information it may not last long. The new wave of promotions won’t be enough to remedy the situation.
Earlier today, the company announced it would implement and “aggressive acquisition strategy for the remainder of 2013.” Traders who are willing to believe such claims coming from an entity which may as well have nothing, may want to consider consulting a professional before trading.