Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) Crashes After Filing 10-Q
Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) had just managed to claw its way out of triple zero land when it was dragged kicking and screaming back down to the bottom of the charts once its latest financial report hit the web.
Interest around TPAC had peaked around the second week of June, however it was last Thursday that saw the ticker finally explode, only to fall flat on its face once more before the week’s end.
Still, this sort of movement is to be expected from a hyped-up OTC Markets pinksheets ticker. After all, once investors saw its latest report, there was nothing to hype about:
- Cash & current assets ~ $23 thousand
- Total assets – $31 thousand
- Total current liabilities – $771 thousand
- NO REVENUES
- Net Loss – $3 MILLION
And if these numbers weren’t sad enough, here’s a quick recap of the company’s recent share structure change history:
- As of Sept. 2014, TPAC had 166 million shares outstanding
- As of Mar. 4, 2015 TPAC had 500 million shares outstanding
- As of June 15, 2015 TPAC had 3.7 BILLION shares outstanding
The last number is so ridiculous it borders on the unbelievable. It paints a picture almost too shockingly grim to be true – yet it is in TPAC‘s official filing, so it must be accurate.
Which is why TPAC is finding itself tumbling headlong towards the obscurity of triple zero land, and probably even further down.
