Energizer Tennis Inc (OTCBB:EZRT) Gets Thrashed
There was a time when Damn Good Penny Picks was one of the more prominent names in the penny stock promotional world. Investors were subscribing to the newsletter, they were playing the picks, and they were expecting both volumes and price gains. Judging by Energizer Tennis Inc (OTCBB:EZRT), Damn Good Penny Picks’ latest alert, this time is now long gone.
The pump began mere minutes after the end of Tuesday’s session. Stellar Media Group, the entity that owns Damn Good Penny Picks, received $15 thousand and it put all of its newsletters to work. Unfortunately, it was all in vain. Instead of pumping up the share price, the wave of awareness actually kicked the chair from underneath EZRT‘s feet.
63% of the market cap disappeared in a matter of just six and a half hours and the ticker dropped from exactly $0.10 all the way to just $0.037.
After the closing bell put an end to the bloodbath, David Cohen, another prominent name from the not-too-distant past, showed up. He received $7 thousand and in exchange, he said that EZRT is about to bounce back up.
We’re not sure if he will succeed where Damn Good Penny Picks failed, though. Not least because EZRT doesn’t really look like a stock that deserves a bounce.
Despite its name, the public company that we now know as Energizer Tennis isn’t really involved with tennis in any way. It says that it’s a technology company and according to its latest press release, it has recently signed a revenue sharing partnership with an entity called Aircom Audio Inc. Hopefully, there will be plenty of revenue to be shared under this agreement because EZRT‘s latest 10-Q doesn’t look too good. Here’s a summary of the figures recorded on July 31:
- cash: $10 (that’s ten U.S. dollars)
- current assets: $3,321
- current liabilities: $236,053
- NO revenue since inception
- quarterly net loss: $50,378
These are not really the figures that could push the ticker in the right direction. In fact, considering the market cap which, even after yesterday’s catastrophic drop, is sitting at well over $3 million, the appalling balance sheet might even drag it further down. And if a huge number of discounted shares hit the open market, a drop is almost guaranteed.
Speaking of which, our previous article on EZRT came out four and a half months ago. In it, we discussed the fact that not that long ago, some people acquired 28,450,000 shares (as adjusted for the stock split from March) for just $37,900. We even predicted that there might be a paid promotion in EZRT‘s future. As it turns out, we were right.
