TheDirectory.com, Inc. (OTCMKTS:SEEK) Plummets Once More
The turbulence of TheDirectory.com, Inc. (OTCMKTS:SEEK)’s stock continued through yesterday’s session. It dropped right from the opening bell but managed to reclaim some lost value and at closing time was down by “only” 20% sitting at $0.0012. Although traded volume was the lowest for the past eight sessions reaching 199 million shares it is still quite significant for the company that not so long ago had days that saw 50 thousand traded shares.
The recent burst of activity displayed by the company has significantly boosted the confidence of their shareholders and as a result the ticker surged upwards, making a five time increase in value in just 3 sessions. Although now fallen from those heights the stock is still far above the $0.0002 it held for months.
One of the main reasons for SEEK‘s plummet into triple zero territory was their decision to stop filing any reports altogether for more than 2 years. It comes as no surprise then that investors decided to find other ventures to put their money in. Now the CEO has announced intentions to be uplisted to the OTCBB tier and become a SEC reporting company which will require some extensive work. That’s why yesterday they hired DKM Certified Public Accountants to act as an auditor of their financials. More importantly they made the bold statement that August 8 will be SEEK‘s last filing as a pink sheet.
August is not that far away but for now we have only the report for the quarter ending February 28 to rely upon. Back then the company had :
- $3 thousand in cash
- $16 thousand in current assets
- $1.4 million in current liabilities
- $100 thousand in quarterly revenues
- $9 thousand net income
In our previous articles covering SEEK we discussed at length what their business plan has been for the past couple of years and what results it has yielded. Today just before trading began they announced a partnership with Yola.com, a company offering website building technologies. Despite the positive news the stock is meeting resistance on its way past the of $0.0012 mark. The company is surrounded by numerous red flags that require careful consideration before investing.
The stock of InSite Vision, Inc. (OTCMKTS:INSV) suffered through a horrendous session yesterday. It dropped by 35% on record volume of 5 million traded shares after failing the last clinical trials for its drug proposal. The surprisingly resilient Awesome Penny Stock pump for Xumanii, Inc (OTCMKTS:XUII) is still going on. The company is 3% up even after being assigned the “buyer beware” symbol from OTCMarkets.
