Transfer Technology International Corp. (PINK:TTIN) Devastated by Pumps
Yesterday the hopes of many traders were stomped in the dust, as Transfer Technology International Corp. (PINK:TTIN) tanked nearly 45% to arrive at a deflated close of $0.029.
The pump campaign for TTIN came to its expected conclusion, with a crash and a bang. The unrealistic expectations and the hype that the pumpers stirred up, combined with the PR fluff that the company kept putting out in a steady stream of announcements, did manage to drive the price up and yesterday whoever needed to get rid of TTIN stock that’s been dead for months, did it at a nicely inflated level.
TTIN as well as the promoters chimed in before the markets opened with one last-ditch effort to get people buying. The pumpers said the company released ‘game-changing news’ that’s not yet been traded and it seemed the game has indeed changed, only it was for the worse. TTIN announced the creation of a new subsidiary and spoke of possible future opportunities, which may never come to fruition.
With no new filing in sight, the company is still sitting on the same dreadful numbers it reported in September:
- $383 in cash, 2 thousand in total assets
- $2 million current liabilities, $48 million accum. deficit
- $10 thousand in quarterly revenue
- $8 thousand in let loss
Obviously those numbers make no difference to promoters, who had the face to come up with more tout last night, even as TTIN had already crashed and burned, presenting it as a ‘bounce play’. Jet Life Penny Stocks who are promising a bounce now came up with empty promises in the past. Last Thursday they pushed an after-hours pump for Bio-Matrix Scientific Group, Inc. (PINK:BMSN), telling subscribers that ‘money will be made’. Sadly, in the next session BMSN dropped by a quarter and has kept closing red ever since.
Traders who got burned on this one have already learned their lesson the hard way. Everyone else should just do their own due diligence and never trade on paid recommendations mailed by pumpers.
