New Pump Devastates That Marketing Solution Inc (OTCMKTS:TSTS)
The stock of That Marketing Solution Inc (OTCMKTS:TSTS) has been targeted by paid pumps on numerous occasions and we have been warning you about it in our articles covering the company. Between February and September over 170 alert emails have been sent in an attempt to create as much artificial hype around the stock as possible.
So, it shouldn’t be such a surprise that yesterday another promoter tried to do just that. This time investors on message boards report that the Wolf of Penny Stocks outfit released an overly-positive email for TSTS. And in the very early trading yesterday it seemed that the pump was working – TSTS surged upwards hitting a high of $0.125 just minutes after the opening bell. What followed after that though can be described only as a total disaster.
The stock began crashing straight for the bottom of the chart and by the time the trading day came to an end it had fallen to $0.0490 per share. In just a single day TSTS wiped more than 45% of their value. Throughout the session the unprecedented amount of 15 million shares got dumped on the market. It appears that the Wolf of Penny Stocks couldn’t have been further from the truth. That, however, won’t stop him from collecting his $50 thousand compensation.
Now that TSTS has been nearly cut in half their market cap has shrunk to $13.9 million. Is this valuation even remotely realistic though? Well, we will let you decide that for yourselves after taking a look at the latest financial report filed by the company. It covers the quarter ended May 31 and contains the following numbers:
• $3238 cash
• $74,079 total current assets
• $622 thousand total current liabilities
• ZERO revenues
• $386 thousand net loss
Even more red flags crop up if you take into account the 26.8 million shares that were sold to a group of investors for a total of $26,800, or just $0.001 per share, a few years back. In addition TSTS sold two convertible notes back in March that can be turned into shares at a massive discount to the market price while just last week they sold a $60 thousand convertible promissory note to JMJ Financial, one of the most notorious toxic funders.
TSTS is often pumped by paid promotions, the last official PR issued by them is nearly three months old, and millions of underpriced shares could see the light of day as a conversion of notes. If you are determined to trade the stock be sure to do so only after extensive due diligence.
