Lustros, Inc. (PINK:LSTS) Closes In The Green After Annual Report
Throughout March Lustros, Inc. (PINK:LSTS) fluctuated around $0.60 followed by a sharp downward slide in the last weeks. Finally yesterday they regained some lost ground by jumping more than 27% to close at $0.55.
There haven’t been much news about the recent activities of LSTS after they changed their name and became a copper mining company. Left at the mercy of the market the ticker became quite a speculative bet. Back in February even a small pump was initiated but ultimately had no effect on the its movement.
Yesterday marked the end of that period with the filing of the company’s 10-K report. Traders were somewhat reinvigorated and LSTS closed in the green with their best performance since the beginning of the month. They disclosed financials in the amount of:
- $277 thousand cash
- $10 million total assets
- $4 million total liabilities
- $54 thousand revenues since inception
- $4 million net loss
Although the numbers aren’t as dismal as those of most other pennystock companies they nonetheless raise some worries. Most of the revenue was earned from a one-time mining project and they are quickly closing in on the 100 million authorized shares with more than 90 million shares of common stock were issued and outstandingas of April 12. What most likely gave hope to investors was the statement that expected revenues would increase significantly after the full scale launch of their copper sulfate production facility in the second quarter of 2013. Until then they remain a risky stock to put your money in. Also keep in mind the fact that the likelihood of pump campaigns targeted at them will only become bigger as time goes on.
