A Change of Promoters for Technologies Scan Corp. (OTCMKTS:TENP)
Last Friday saw Technologies Scan Corp. (OTCMKTS:TENP) drop even further down towards the bottom. They bombed by 43% reaching the level of $0.057 with more than 600 thousand shares traded.
The company has been trading for just 4 days but has already been devastated by promotional pressure losing 75% of its value. Initially TENP was touted by TheStockScout, PennyStockPlayers and PennyStockCircle, affiliates of Global Marketing Media, for the compensation of $35 000 but now they have moved on to other tickers. In their place other lesser pumpers in the likes of HSP Team, Whisper from Wall Street and OTC Stock Exchange have come to continue the effort. This time around the sums handed out are way smaller ranging from $3000 to $5000.
At least TENP have continued with their negotiations to acquire the rights for the Proteina21 food supplement. The company is even considering expanding the product marketing over to Europe as well. They have even created a flashy new site for their business. The one thing that sets them back are the limited financial resources. According to their financial report for the period ending December 31 they had:
- $3536 cash
- $54 thousand total current assets
- $253 thousand total current liabilities
- no revenue
- $21 thousand net loss
They haven’t managed to bury themselves in vast amounts of debt and the only thing lacking is a stable flow of revenues.
A few week ago OTC Stock Exchange and Whisper from Wall Street were part of another pump – this time for SMA Alliance, Inc. (OTCMKTS:SMAA). Despite the alert emails sent to investors the promotion had a reverse effect and only managed to drive the ticker further down to the ground.
For now TENP remain a risky venture even for experienced traders. They may show some positive potential but the immediate pumps that started for them should raise some concerns. You should always weigh the risks surrounding an investment and decide whether the possible losses are acceptable.
