Green Standard Technologies Inc (OTCMKTS:GSTC) Springs a Leak
What has not traded a single share in nearly three full months and crashed massively over the last two sessions, with a massive volume spike on Monday? The answer to that would be Green Standard Technologies Inc (OTCMKTS:GSTC).
GSTC is an entity operating through its wholly owned subsidiary – Syndicore Asia Limited – a company that thinks news agencies are “struggling to make ends meet” and also believes broadcasters are fighting a battle “to stay alive”. Thankfully, it seems, Syndicore is here to save the day by executing its ingenious business plan.
Syndicore seeks to aggregate and syndicate sports video highlights for the Asian online media – a business plan about as specific as business plans can ever get. Whether the company can execute on this plan is a different matter.
The more cautious among investors would also want to know that GSTC‘s official corporate headquarters is an address in Hong Kong, China. Here is a brief summary of the balance sheet that showed up in GSTC‘s latest quarterly report:
- $194 (one hundred and ninety-four US dollars) in cash
- $1.6 million in current liabilities
- ZERO revenues since inception
- $420 thousand in Q2 net loss
These numbers could provide half the explanation of why nobody bought a single GSTC share for months on end.
Additionally, traders may find some particularly interesting information about share issuances that took place over the last few years in the company’s latest quarterly. The list of share sales and offerings and business combinations is too long and tangled to summarize here but should nonetheless make for great reading material for anyone interested in the stock.
