Trulan Resources Inc (OTCMKTS:TRLR) Going Through Hard Times
The stock of Trulan Resources Inc (OTCMKTS:TRLR) slumped to the bottom of the chart after it rapidly lost more than 90% from its price in the end of February.
The company’s stock has little movements which are almost unnoticeable for the past month. The last two trading sessions started at higher prices than the previous days, but yesterday they finished below what they opened at.
Today their price has already gained 15% with a considerable volume of nearly 6 million shares traded in just 1 hour from market open. The gain made their stock price jump from $0.0118 to $0.0130 with a total trade value of $77 thousand. However, where will it go from here?
As most recently they submitted a quarterly report under the alternative reporting standard in the OTC Markets we can take a look at how things have been developing for them, financial-wise, from the beginning of the year until March 31. The numbers of prime interest are listed below.
cash: $374
total assets: $39 thousand ($32 thousand in mining claims)
current liabilities: $27 thousand
total liabilities: $204 thousand
revenue: $0
net loss: $67 thousand
The report also contains information about the misteryous private investment group that is going to provide them with a $1 million loan. Again this investment group is left unnamed. As we noted in our previous article about TRLR they are in the OTC Markets Pink Sheet Tier and are not a SEC filer. This means that they are not obliged to give this information if they are not inclined to do so.
All we can say about their stock for now is that it can literally go anywhere as it is constantly being pumped with no actual results so far. Another thing that you might want to take into consideration is the fact that most of the serious mining companies and even some of the scams out there file reports with the SEC. We can’t point out the reason for TRLR‘s decision not to do so, but it seems shady.
All in all TRLR are a risky investment choice, so be sure to do your due diligence and weigh out the risks before you make up your mind.
