Quantum International Corp. (OTCMKTS:QUAN) Getting Dangerously High
After simmering quietly for months on end, wobbling along on modest share volumes, the last two market sessions saw Quantum International Corp. (OTCMKTS:QUAN) skyrocket from about $0.07 to $0.50 per share. With no detectable paid promotions for the stock disseminated through the usual channels and avenues, traders obviously didn’t know what to do with themselves and jumped on QUAN as though it were hot cakes.
The company has been dishing out optimistic press releases about its intentions to make it big in the robotics and specialized electronics market, more specifically in the mobile device accessory market. The company keeps putting out a steady stream of press releases explaining how it intends to make Apple’s iPad a better device with its feature-rich protective cases, jam-packed with awesome gadgets. The case promises to address a slew of perceived issues with the iPad but their implementation remains rather hazy, as the product is, naturally, still in development. Traders should be able to decide for themselves how probable it is that a new case will be able to deliver in all promised aspects.
The company’s latest financial report is a quarterly for Q1 of 2013 and it contains the following numbers:
- $13 thousand in cash
- $4.4 million in liabilities
- zero revenues since reentry into development stage
- $281 thousand in quarterly net loss
QUAN also happens to be currently steered by Mr. Robert Federowicz who has a long history of working as the CEO of OTC enterprises, even if that history is not too successful. He served as the CEO and President of OBJ Enterprises, Inc. (OTCMKTS:OBJE), back when it was still named Obscene Jeans Inc. His tenure ended in September 2011, with the performance of the stock during this time visible on the chart. He also served as CEO for First Titan Corp. (OTCBB:FTTN), stepping down from the CEO spot on Jan 1, 2013, after the stock had crashed hard enough to warrant a change. Both OBJE and FTTN have been the target of pumpers.
With QUAN currently balancing on a ledge up in the thin air, far above the place where it sat just two days ago, it may turn out that it got way too high for its own good. Experienced penny traders probably know that it’s never a good idea to chase stocks and QUAN is in a situation where things are moving at a breakneck pace that may leave new arrivals dazed and confused.
