TheDirectory.com, Inc. (OTCMKTS:SEEK) Up by a Quarter
Yesterday the stock of TheDirectory.com, Inc. (OTCMKTS:SEEK) had a big green close, gaining 25% to come to a halt at $0.004 per share. Volume remained above average, picking up some steam at 118 million shares traded.
SEEK had its big moment at the start of October, after spending the better part of the previous two months calmly bubbling under a tenth of a cent. The trigger was a PR from SEEK that informed the public the company secured a $5 million credit facility and used its first $1.3 million draw to cover a portion of an acquisition deal. SEEK acquired a ‘local city guide’ network from an unnamed private company.
The financing news and the acquisition got traders so excited, the stock shot up 75% on huge volume the very same day the news hit the wire. The company kept the fire going since then with a steady stream of press releases that helped prop the price as high as $0.004. The stock retreated, then yesterday’s jump sent it back up.
What’s going on with SEEK could potentially be great but sadly there’s no real way to know for sure. Even though the company stated its intentions to start making steps towards uplisting out of Pink sheets and into OTCBB, it’s currently a pink sheet labeled as “Limited info” on OTCMarkets and the most current report it filed was a quarterly for the period ended May 2013, that contains some disheartening figures.
Currently being a pink sheet, SEEK has not filed official documents detailing the terms and conditions or the $5 million credit facility and details regarding the acquisition of the ‘city guide’ network. Investors are currently flying virtually blind, with outdated official filing information and the prospects of a bright future, fed only through press releases, so caution is advised. Thankfully, at the very least, this time around SEEK is moving without any pumps. Those who have been following the stock for a while will remember that the move that dragged the ticker out of triple-zero land was backed by a cavalcade of pump emails.
Other big movers from yesterday’s session include Pan Global Corp. (OTCMKTS:PGLO) who rose 14% to a close of $0.57 per share, driven by a rather expensive pump job. Infinity Energy Resources, Inc. (OTCMKTS:IFNY) dropped almost 30% to a stop at $2.05 per share.
