Thinspace Technology Inc (OTCMKTS:THNS) Sinks Even Lower
The lack of volatility didn’t stop Thinspace Technology Inc (OTCMKTS:THNS) from sliding all the way to the bottom of the charts under the weight of all the paid pumps thrown its way since the beginning of 2015.
Interestingly enough, the ticker drew the investors’ attention as late as about a week ago, in spite of the efforts of pumpers like Value Penny Stocks and HiddenGemStocks. Evidently, TheNextBigTrade, BeatPennyStocks and PennyPicks did a much better job, as daily dollar volumes reached more than a million dollars on July 26. Evidently, Microcap Innovations, the third party paying for most of the more recent pumps, knows which promoter to pay in order to get its money’s worth.
As the charts can attest, the pumpers efforts succeeded – the ticker was stirred into motion and exploded up the charts for three whole trading sessions. Of course, it crashed immediately after, but that is to be expected – that is how pumps work after all.
And by now, there probably should not be any doubt in investors that THNS is just your average pump job. Just look at its latest financial report:
- cash – $166 thousand
- current liabilities – $15 million
- quarterly revenues – $709 thousand
- quarterly net loss – $270 thousand
Those numbers are simply atrocious, and the bad news is that they are not the only red flag that pops up after a bit of digging in THNS‘s filings.
Another disturbing fact is that as of June 12, the company had 123 million common shares outstanding.
On June 26, THNS registered 114 million in daily volume. This hints at the probability that the numbers from 20 days ago are no longer current, because a bunch of shares have entered circulation around the time the ticker took off.
Such a turn of events would hardly surprise anyone, given THNS‘s current circumstances.
