Trans-Pacific Aerospace Company Inc. (OTCMKTS:TPAC)’s Tumble Continues
Trans-Pacific Aerospace Company Inc. (OTCMKTS:TPAC) lost another 18.18% of its market value yesterday, as even more investors abandoned ship.
It is hard to pinpoint the exact reason why so many investors decided to pay TPAC as much attention as they did in the last couple of weeks. After all, the multitude of red flags that surround it have been obvious for years.
Regardless of the past, all hope seems to have been wrung from said investors with the filing of the company’s latest financial report.
Said report, for the period ended Apr. 30, 2015, certainly painted a grim and depressing picture of the company’s financial standing:
- Cash & current assets – approximately $23 thousand
- Total assets – $31 thousand
- Total current liabilities – $771 thousand
- NO REVENUES
- Net Loss – $3 MILLION
And, believe it or not, the unimpressive numbers given above are actually the better part of the report. The truly horrifying revelation comes at its very beginning with the announcement that, as of June 15, 2015 TPAC had 3.7 BILLION shares of common stock issued and outstanding. Just to put things in perspective – as of Sept. 2014, TPAC had 166 million shares outstanding. What more needs to be said about the way TPAC does business?
Not much, except perhaps, that TPAC officials keep trying to pump investors up through tweets, but said social media exposure sounds less encouraging and more like addled ramblings with each passing day.
