Thinspace Technology Inc (OTCMKTS:THNS) Gets a Flat Tire
It very nearly looked like Thinspace Technology Inc (OTCMKTS:THNS) was gunning for recovery from the abysmal streak that smashed the company’s share price from $0.10 in April to sub-penny in June. However, it was not to be – after three spasmodic sessions with heavy intra-day volatility, yesterday THNS crashed by almost a quarter, very nearly going back in double-zeroes.
After 29.5 million THNS shares changed hands, the company stopped at $0.0105 per share. The incessant flood of pump emails targeting THNS no doubt played a significant part in the company’s horrifying chart excursion in 2015.
Over the last three months along, THNS has dropped over 95%, going from over $0.10 per share in early April to $0.0034 just last week. The company is being continuously bombarded with paid pump mail. The last one arrived only yesterday, after the market closed. The usual irrelevant technical analysis of a pumped penny stock is accompanied by a disclaimer that reveals promoter TheNextBigTrade dot com received $20,000 to advertise THNS stock.
The company’s latest financial report is not exactly the stuff that would inspire potential investors. Here is what the company reported as of March 31, 2015:
- $166 thousand in cash
- $15 million in current liabilities
- $709 thousand in quarterly revenues
- $270 thousand In quarterly net loss
According to a June 12 filing the company had 123 million outstanding common shares as of that date. Whether this is still the case is hard to tell but investors can get some hints from the 114 million in daily volume on June 26.
With pumps already caving in and THNS nearly back in double zero territory, it’s difficult to predict what the future holds in store.
