Preston Corp. (OTCMKTS:PSNP) Gets A Pump
Preston Corp. (OTCMKTS:PSNP) caught a nice boost on Friday, when the latest round of pumps targeting it hit the web.
What is perplexing about the whole situation is that it was this pre-weekend round of pumps that finally caught the investors’ attention. By all accounts, this particular pump was more or less stillborn before PennyStockDream redoubled their efforts.
The pump’s initial lack of success could probably be explained with its relatively low compensation. As the old saying goes – you get what you pay for.
However, that old saying is not necessarily true right when it comes to the actual value of the stock of the companies on the OTC Markets. Case in point – PSNP‘s market cap at the end of Friday’s trading was $34 MILLION.
That may be just a bit unrealistic, especially considering the fact that last time it reported, the company had just:
- Cash – $4 thousand
- Total assets – $66
- Total current liabilities – $139 thousand
- NO REVENUES EVER
- Net loss – $21 thousand
What more can we say? At least PSNP doesn’t seem to have heaps of toxic convertibles to its name. Unfortunately, that probably won’t be anywhere near enough to help it keep its gains, ephemeral as said gains currently are.
Investors are advised to proceed with extreme caution when dealing with PSNP. Let the buyer beware.
