That Marketing Solution Inc (OTCMKTS:TSTS) Drops To New Lows
After a short lived bounce the stock of That Marketing Solution Inc (OTCMKTS:TSTS) is now once more suffering devastating crashes. Last Friday the ticker lost over 36.6% of its value and dropped to its lowest closing price of $0.0038. The current 52-week low of the stock is 0.0029 registered at the end of last month.
TSTS is an extremely dangerous stock. The company was trading at more than 10 cents per share just a couple of weeks ago while now it is more than 96% lower. In our articles we have been warning you that the stock’s valuation was too much for the underlying fundamentals to support. At the end of May the company had:
• $3238 cash
• $74,079 total current assets
• $622 thousand total current liabilities
• ZERO revenues
• $386 thousand net loss
In order to keep its operations going TSTS sold two convertible notes back in March in the aggregate amount of $275 thousand while in October it sold a convertible promissory note of up to $360 thousand to one of the most infamous toxic funders – JMJ Financial. Last Thursday TSTS filed an 8-K form stating that the March notes reached their maturity dates and the company has failed to repay then allowing the noteholders to turn them into shares.
The dilution could be responsible for the devastating drop down the chart and if more discounted shares are being printed TSTS may find moving in the right direction rather difficult.
The company has been silent for more than three months now with the last PR being issued on July 29. At least by the end of the month the annual report covering the fiscal year ended August 31 should be filed and investors will have access to some more current information about the financial state of the company. The report will also reveal TSTS‘s share structure.
