That Marketing Solution Inc (OTCMKTS:TSTS) Free Falling After AS Increase
In yesterday’s session the share price of That Marketing Solution Inc (OTCMKTS:TSTS) took another nasty blow. The stock slid a whopping 35%, approaching the bottom end of double zeroes once more. By the bell TSTS was sitting at $0.002 per share, after 60 million shares changed hands.
TSTS has not been doing particularly well lately. There are a number of issues with the company and it seems the sum of them all was enough to push the stock from $0.10 to double zeroes, or 95% down, within the space of a month and a half.
The company is late with its annual report for the fiscal year ended August 31, 2015. The NT 10-K filed a few days ago stated that TSTS should be ready with the filing by Dec 15. The delay is certainly not doing the failing share price any favors. On the day the notification of late filing went up, TSTS deep in double-zero land.
The stock was also targeted by Twitter promoter Wolf of Penny Stocks. Sadly, on the very same day when the pumper issued his “alert”, TSTS got devastated on the charts, dropping 45%. We covered the social media promo and the subsequent apology issued by Wolf of Penny Stocks in a previous article.
Additionally, TSTS recently informed investors that the company essentially defaulted under two different promissory notes. On October 20 the extended maturity dates of two notes with a combined principal amount of $275,000 came and went without payment and the noteholders got the right to convert them into common stock, with some delicious conversion rate discounts attached.
TSTS issued an additional convertible note to notoriously toxic financier JMJ Financial in mid-October that has a 40% conversion discount attached. In early November another convertible was issued to Beaufort Capital Partners, with a 42% conversion discount attached to it.
To top it all off TSTS increased its authorized shares from a relatively reasonable 500 million AS to triple that figure. As of December 15, TSTS will officially have 1.5 BILLION authorized common shares and that’s a lot of new space to fill up, but then again, those discounted convertibles need a lot of breathing space.
