Smack Sportswear (OTC:SMAK) Pump Comes to an End

After pumpers started touting Smack Sportswear (OTC:SMAK) yet again, a couple of dozen pump emails came through in just two short days. It seems enough was enough for promoters, as after yesterday’s 12% drop pumper Hot Stock Ace Publisher is moving on to potentially greener pastures, pocketing $100 thousand for touting SMAK.

SMAK stock has been repeatedly hammered by pumpers, each consecutive promotion dragging the price to new lows as it ended. The two previous major email promo campaigns for the stock are marked on the chart to the right. No new emails for SMAK came through today, as it seems this last round is over as well.

The company has been active on the press release front but much quieter when it comes to filings. SMAK‘s due quarterly for the period ended December is still due but has been delayed with a NT 10-Q. Investors would have probably preferred some financial information to press releases about the exposure the company’s bikinis got through exposure in a reality show or to announcements of increased website traffic in the wake of the show.

As per its last available September quarterly SMAK was cashless and had not generated any revenues whatsoever since inception in 2007. After the company reverse-merged with Team Sports Superstore, it gave shareholders an update on how this change affected the financial situation of the business. The financial situation of Team Sports Superstore as of June 2012 was as follows:

• $11 thousand in cash
• $457 thousand in current liabilities
• $227 thousand in net loss for the year ended June 2012

Stacking this ontop of SMAK‘s non-existent cash and revenues doesn’t precisely paint a picture of a successful business and due to the lack of any more current financial report, traders have little proof that things have changed for the better.

Hot Stock Ace Publisher ran other promotions that ended up losing investor cash by the bucket load. One very recent example is their pump on Hokutou Holdings Int. (PINK:HKTU) that is about 80% down from the $30 thousand pump effort.

SMAK is currently 22% down in early trading at the time of writing.

Traders are advised to do their own due diligence and research and never trade on promotional promises for easy money, especially with companies that have a history of repeatedly crashing promotions.