Tranzbyte Corp (PINK:ERBB) – Fifth Time’s The Charm
The time has come for Tranzbyte Corp (PINK:ERBB) to be part of yet another pump campaign. This being the fifth one for the last twelve months. Yesterday we received more than 20 promotional emails and today we are still getting more and more. Despite the heavy traffic ERBB‘s shares lost 6% to close at 0.0062.
StockMister have returned to Tranzbyte after they did a promotion for them back in January. A major role in this decision must have played the hefty compensation they received from Equity Group LLC amounting to $162 500. Numerous bigger and lesser promoters have also joined in for various sums – ranging from $3000 do $30000. All this hype certainly increased the number of investors interested in the stock as the last market session saw more than 60 million shares traded.
The only piece of information supporting ERBB is a press release curiously published on the same day the pump started. In it they announced that Sean Loomer has joined the staff to oversee the roll out of the company’s automated vending network called The Altitude Organix Network. We really hope that Mr. Sean Loomer can help them finally generate some sort of revenue because they desperately need it.
As of Januray 8, the company has 1 885 868 494 shares outstanding from the 1 995 000 000 authorized which means even more dilution is likely in the near future. Their financial statement doesn’t look any better either:
- $1269 in cash
- $1 million tottal assets
- 3.5 million tottal current liabilities
- no revenue for the last six months
- $166 000 net loss
A new report is due to be filed soon as these numbers represent the period ended December 31. Seeing the lack of any meaningful news about their operations, serious doubts remain for the possibility of significant improvement during the first quarter of 2013.StockMister is one the biggest pumpers around and there are numerous examples of their past works. Their most recent involvement was with IceWeb, Inc. (OTC:IWEB) and just two days ago they crashed hard.
There is no such thing as being too careful when investing in sub-penny stocks. Checking the background of the company is the leas you can do before committing to any trades.
