Spiral Toys Inc (OTCBB:STOY) Gets Corrected

[[tagnumber 0]][[tagnumber 1]]A few months have passed since we last wrote about Spiral Toys Inc (OTCBB:STOY). Back then we discussed the disastrous paid promotion from the beginning of the year and the subsequent efforts of promoters. This was back in the end of April when the stock was slowly ascending the charts.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite the fact that the promotional emails kept coming in the following months, however, the ticker was hovering around the 50 cent per share mark. The volumes became lower and everything seemed very stable. Meanwhile, the company’s financial report for the first quarter of the year came out and the numbers that it contained weren’t very impressive.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $83,020[[tagnumber 11]] [[tagnumber 10]]current assets: $83,020[[tagnumber 11]] [[tagnumber 10]]current liabilities: $394,789[[tagnumber 11]] [[tagnumber 10]]quarterly revenues: $10,000[[tagnumber 11]] [[tagnumber 10]]quarterly net loss: $603,760[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]On the good side, we see that the company has managed to begin generating revenues, although very small. On the other side, the cash reserves have decreased significantly while the net loss has seriously increased.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Earlier this month we received more promotional emails and the stock began to slowly climb the charts. The company stock managed to finish an impressive eleven sessions in a row green. The latest press release announced that CloudPets, [[tagnumber 28]]STOY’s[[tagnumber 29]] signature model, is now available at Walmart.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite the great news we saw [[tagnumber 28]]STOY[[tagnumber 29]] drop 12.33% yesterday and finish the session at $0.64. A total of 228 thousand shares were traded during the session, generating some $163 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Only time will tell if things will go according to [[tagnumber 28]]STOY’s[[tagnumber 29]] CEO, Mark Meyer and the company will up–list its stock to NASDAQ in early 2016. In the meantime, be sure to do your own due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]