Puget Technologies Inc (OTCMKTS:PUGE) Sinks Further Down The Charts

[[tagnumber 0]][[tagnumber 1]]After a lot of slow trading in the first half of the year we saw Puget Technologies Inc (OTCMKTS:PUGE) explode onto the OTC scene last month. Not only did the prize go up, but we also saw a significant increase in daily volumes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, [[tagnumber 6]]PUGE[[tagnumber 7]] suffered a quick correction which obliterated almost all of the gains it had made. After all, the company’s financial results weren’t that impressive. Here is just a quick reminder of what we got to see in [[tagnumber 6]]PUGE’s[[tagnumber 7]] report for the quarterly period ended April 30, 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $51 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $51 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $1.11 million[[tagnumber 15]] [[tagnumber 14]]revenues: ZERO[[tagnumber 15]] [[tagnumber 14]]net loss: $250 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As the company stock began to fade away once again we saw an effort from the company to cushion the blow. On July 28 [[tagnumber 6]]PUGE[[tagnumber 7]] issued a fluff press release announcing that the company was entering the online travel industry, but that failed to yield any results.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Instead, we saw the company stock hesitate in the final days of last week and suffer a horrible blow in the first session of this. Yesterday [[tagnumber 6]]PUGE[[tagnumber 7]] lost a massive 49.89% of its value while we saw more than 5 million changed their owners and generate $119 thousand in daily dollar volume as the ticker was going for a close at $0.0225.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This isn’t surprising considering the vast amount of discounted shares that saw the light of day just several months ago, a thing that we wrote about in our previous article. Today’s session also started rather badly, but we see that [[tagnumber 6]]PUGE[[tagnumber 7]] is making an effort to gain some value and is already 9.33% up.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This, however, doesn’t mean that it can’t return to its downward slide so doing your due diligence and weighing out the risks before putting any money on the line is crucial.[[tagnumber 2]]