Trans Global Group, Inc. (OTCMKTS:TGGI) Turns Red
After several green days and a nice percentile run up the charts, yesterday Trans Global Group, Inc. (OTCMKTS:TGGI) switched in reverse and dropped 20%. The ticker managed to move 305 million shares but at its price levels, that amounted to just above $250 thousand in daily dollar volume.
It seems OTC traders never get tired of occasionally prodding sub-penny stocks with a pointed stick, trying to see what happens when they do. TGGI is one such stock, quietly hovering near the absolute minimum, oscillating between $0.0002 and $0.0001 throughout September. Starting on October 7, several big volume spikes sent the ticker on a green spree and to an intra-day high of $0.0014 last Thursday.
There’s very little reason for TGGI to spring out of oblivion the way it did. Luckily, there are no traceable paid pumps for the ticker. There are also no new press announcements as TGGI‘s Yahoo feed has been as dead as a doornail for months. Some traders on discussion boards are doing their best to spread hype and rumors about impending material news and huge announcements from the CEO but those remain just that – rumors, and of a highly speculative nature.
TGGI‘s latest report is a quarterly for the period ended June 2013 and contains the following figures that are more or less in line with the share price:
- $896 in checkings/savings, comprising total current assets
- $50 thousand in current liabilities
- $47 thousand in quarterly revenues
- $8.9 thousand in quarterly net loss
A more detailed look at the report reveals other staggering details, such as TGGI recording a fuel rebate of 85 cents under ‘Other income’, as well as spending a total of $4.95 on advertising over the quarter. The company’s website has a Media section which should hold video coverage of the company ‘in the news’ but sadly the videos have been taken down.
TGGI‘s CEO Chris Clarke is also involved in other OTC enterprises, serving as CEO for Cyber Kiosk Solutions, Inc. (OTCMKTS:CYBK), another ticker that curiously logged negative cash of minus $370 in its latest report and generated net loss of $59 thousand for Q2.
TGGI is currently flat in early trading.
Other big red movers in Friday’s session include Vertical Computer Systems, Inc. (OTCMKTS:VCSY) who dropped 36% on over 8 million shares traded, stopping at $0.059 by the bell.
