OSL Holdings Inc. (OTCMKTS:OSLH) Bombs After Attempted Pump
During the weekend a small pump for OSL holdings Inc. (OTCMKTS:OSLH) was initiated by PennyStockMarketBulls, EmailStockPicks and FreeSuperStocks. In early trading on Monday their efforts seemed to have lifted the ticker upwards but it quickly lost steam and by the end of the day it plummeted by more than 43% to close at $0.057.
For their hard work two of the promoters bagged the sum of $10 thousand each. Looking further into their disclaimers we found that the paying party is no other than FreeSuperStocks, who disclose receiving no compensation. Now that is a curious fact – what are they expecting to gain from the pump in order to cover for the money they spent?
On the other hand we certainly can’t blame them for the disappointing result when the company itself does little to help the situation. Their latest 10-Q report for the period ending February 28 reveals a rather lackluster financial state:
- $710 cash
- $2710 total assets
- $2.2 million total current liabilities
- no revenues since inception
- $1 million net loss for the quarter
Additionally OSLH‘s general and administrative expenses amounted to $979,900. The increase of $670,000 compared to the same period of the previous year was related to the non-cash stock based compensation expense as part of the employment agreements with the company executives so at least they shouldn’t be complaining.The company managed to successfully enter into a couple of marketing agreements throughout March. If they deliver some positive results and release an encouraging announcement it might sway the investors back.
