TheDirectory.com, Inc. (OTCMKTS:SEEK) Comes to a Halt
Long shareholders of TheDirectory.com, Inc. (OTCMKTS:SEEK) enjoyed a pretty stellar run as the company’s stock climbed explosively over the last week. The stock was quietly fluctuating near the absolute bottom at triple zeroes for months before the surge that sent it more than 500% up. The wild climb came to a halt on Friday, as SEEK closed flat.
The reason for the dismal state of the stock’s price, which is currently at $0.0017 even after the surge, is the fact that SEEK seemed to have given up on filings for quite a while, with an informational blackout that lasted nearly two years. The stock was stamped with the Pink No Information ‘Stop’ sign on OTCMarkets until the start of this month when SEEK‘s report for the quarter ended February was made public. The company is still in the Pink Limited Info tier due to the outdated nature of the filing. The previous report available dates back to August 2011.
The February quarterly is not exactly bustling with optimistic figures either. Here is a short rundown:
- $3 thousand in cash
- $1.4 million in current liabilities
- $100 thousand in quarterly revenues
- $9 thousand in quarterly net income
Considering these figures, the lack of yearly reports for previous periods and the 2.8 billion outstanding shares of SEEK, investors would do well to exercise caution. The price surge came to a standstill on Friday even though the share volume remained heavy. If enough people decide to take their profit and exit the stock for fear of a reversal, the share price could see a swift retrace back into triple zeroes.
In a press release SEEK explained the lack of filings with ‘acquisition related activities’ and buyout offers, as it seems those are good enough reasons for the company to keep its shareholders in the dark. SEEK will be hosting a conference call tomorrow, which may shed some more light on its activities, even though considering how vague the recent press releases have been, this is not too likely.
Other stocks that shuffled significant dollar volume on Friday include Xumanii, Inc. (OTCMKTS:XUII) – the surprisingly long-lived Awesome Penny Stocks pump job, who outdid their all-time high reached on Thursday and climbed by another 20%. NanoTech Entertainment, Inc. (OTCMKTS:NTEK) continued their downhill slide, closing 20% in the red on over 30 million shares traded.
