PTA HOLDINGS IN (PINK:PTAH) and The Stock General are on the Road Again
When we covered PTA HOLDINGS IN (PINK:PTAH) a week or so ago we mentioned that they have disclosed virtually no information about the company what they do how they do it and how they are going to continue in the future. By that, of course we don’t mean forward-looking news coming out every now and then telling us that the future is bright. We also don’t need paid newsletters telling us the same things.
Instead we would have liked a clean well-written financial statement that will show that PTAH really are on the right track. We really wanted to open the OTC company profile and see a new quarterly report and, to our astonishment, there was. After quite a lot of cheering and all-round joy that PTAH have finally given us and investors something to work with, we opened the report and soon after we realized that it simply wasn’t meant to be.
Although it’s filed as a quarterly report, it resembles nothing like this. Instead it looks like a hybrid between an advertisement and a press-release. Since PTAH are listed on the Pink tier on the OTC Markets, however, there is no one that can point a finger at them and blame them for the format of their reporting. What we can do, is tell you once again, that the information in these filings simply isn’t enough.
Of course that doesn’t stop them from issuing press-releases and stating that they will be in the multi-billion transportation business but, as this diligent investor has found out, there will be quite a lot of time until this happens since the two subsidiaries of PTAH that are supposed to be dealing with this sector seem to have existed for no more than a couple of months.
But you don’t even need to dig around this much to find out that any success in the foreseeable future is highly unlikely. As we mentioned in our previous article, at the time of their latest reporting, they had a total of $582 in the bank, hundreds of thousands in liabilities and tens of thousands in net loss. We’re pretty sure that the lease of the property that they announced just a couple of hours ago will cost a bit more.
We mustn’t forget that PTAH have one more subsidiary. It’s called ProFlow, it seems to be the only source of revenue and it’s supposed to produce lubrication solutions for healthy engine. When we looked for ProFlow on the Yellow Pages, however, it would seem that it’s nothing more than a car repair shop. Looking through the revenues we also guessed that this is the case.
That doesn’t stop the promoters, though, and they continue to receive compensation and write rather pointless emails in an attempt to make PTAH‘s shares even more overpriced than they are now. No less than 8 emails reached our database one of which was sent by The Stock General. They are an extremely active promoter and although they don’t take the biggest compensation, their words sound just as luring as the ones written by the more influential pumpers. Not more than a few days ago they touted HOKUTOU HOLDINGS INT (PINK:HKTU)’s stock. Although HKTU closed in the green for the first couple of days, it rushed back to where it belongs and wiped out more than a half of its price in just four trading sessions.
