Trulan Resources, Inc. (OTC:TRLR) Shuffles Volume, Pumps Follow

Yesterday Trulan Resources, Inc. (OTC:TRLR) managed to shift significant volume of over 5 million shares. The price action was chaotic, with a large gap up at the open, followed by several big dips and spikes during the session. Several paid pumps for the stock were mailed before the market opened, with a dozen more to follow in the late afternoon.

Whispers From Wall Street and OTC Stock Exchange sent two identical promotional emails in the morning, compensated with a modest $5 thousand. In the late afternoon, once the ups and downs of the session had settled and TRLR was safely in the green, a bunch of promoters sent new touts for the stock, disclosing compensation of up to $12,500.

Trulan came up with more press announcements over the last two days, mostly containing generalities and forward-looking statements, including information about a private equity group who expressed interest in a ‘potential’ financing of TRLR‘s operations in the land claim.

A large part of the trouble with TRLR is that all the good stuff about them is future potential, which remains to be proven, and very little to fall back on in terms of current financials. The company filed its yearly report for 2012 two days ago. The numbers contained in it were as follows:

• $523 in cash
• $53 thousand in current liabilities
• zero revenues
• $38 thousand net loss

TRLR offloaded all of its subsidiaries and assets associated with its previous line of work as a human resources company into the hands of its principal shareholder as of October 2012 in exchange for debt forgiveness and the assumption of all former subsidiary liabilities. That is probably also why the yearly report does not contain the revenues generated in the first three quarters of last year.

Considering the sordid performance of the previous rounds of pumps for TRLR over the last month, with the first promotions starting back in late February, while the company’s ticker was still TLAN, there is little indication that something has dramatically changed for the better. TRLR is currently about 75% down from its late February prices. Yesterday’s volume action can be attributed in part to the morning pumps and it’s still not a definite sign that TRLR is going to recover.