First Titan Corp. (OTCBB:FTTN) Waits for More from QualityStocks

First Titan Corp. (OTCBB:FTTN) refuses to give up, alternating days of losses with climbs just enough to keep things level. On Wednesday, the stock slid down more than 14% to $1.22, but on rather cautious selling volumes of a bit above $300K. Thursday opened with a climb toward $1.36.

For FTTN, it seems like all the PR hype is wearing out, as the first few messages generated enthusiastic buying, but it seems investors had enough when the stock headed toward $1.80. Still, FTTN did not fulfill the expectations for breaking above $2.50. But it was clear since the beginning of the trend that FTTN was little more than a chance to jump on a trend. The trend itself was not really supported by the company’s fundamentals. FTTN boasts of many oil and gas assets, yet its bottom line remains slim, and the production from its wells speaks of almost depleted plots.

On Wednesday, FTTN tried to boost its record by another press release, this time promising to employ electronic systems to track and manage oil production. Yet it is still unclear how that would improve pumping, which for FTTN has been relatively weak and unprofitable.

It also became clear that QualityStocks is not letting down FTTN, not for a while, as it was paid up to $100,000, reportedly for 100 days of advertising. This may mean that FTTN may have a few more good days up its sleeve. Even the potential for a promotion may keep investors interested.

If you want to see what happens in the aftermath of a promotion, OriginOil, Inc. (OTCMKTS:OOIL) keeps giving a good example, as it is still unable to recover the peak around 70 cents, and hovers below 30 cents.

BlueEarth, Inc. (OTCMKTS:BBLU) remains stagnant, even moving lower, as the company started with great optimism, overstating some of its forest assets.

For FTTN, the next 10-K would be available in January, so the next few months will hardly be marked by rapt attention to the company’s financials. The financial year for the company ends on September 30th, and quarterly results may be the next dose of entertainment.

Still, FTTN shows too many red flags to be reliable for any significant run. Keep this in mind if you still see a bargain price for the company, you must be prepared for the correction and uncertainty to go on. Quality Stocks may come in again, inflating the price disproportionately, so this is one more thing to beware.