Vital Products, Inc. (OTCMKTS:VTPI) Up on Ridiculous Pump
After spending months on end quietly simmering in triple-zero territory, Vital Products, Inc. (OTCMKTS:VTPI) surged 183% up on Monday. The most likely causes for the move were a promotional email and the ticker’s very low share price. After the spike, VTPI closed at $0.0017 per share.
Promoter Happy Penny Stocks sent a lonely, uncompensated email targeting VTPI on Sunday. The pump contained the usual, baseless promoter drivel. The promoter thought it was important for subscribers to know the number of VTPI shareholders back in 2012, two full years ago, and concluded that this low number means entry into VTPI at this point comes at a massive discount, for reasons unknown. There are several very important facts that the promoter failed to mention, which may interest investors.
VTPI is a pink sheet limited info company, due to the fact that the company failed to file its last annual report. VTPI‘s fiscal year ends in July, so the annual report was due by the end of October 2013. The company posted a notification of late filing, extending the deadline by 15 days. Sadly, the report never came.
Here is what the financial situation of the company was as of its last public report, dated April 2013:
- $9 thousand in cash
- $1.1 million in current liabilities
- $628 thousand in quarterly revenues
- $7 thousand in quarterly net loss
Those dreary figures are the best source of information for traders and they are now a year old. VTPI did not file any quarterly reports following its missing annual either. The most current filing is an amended 8-K informing that the company’s public accounting firm discontinued working with VTPI back in November 2013.
Yesterday’s daily share volume is another red flag. The number of outstanding shares VTPI last reported was 579 million. However, that was back in June 2013. On Monday 796 million VTPI shares changed hands. Is it possible that the company shifted its entire OS count and then some in a single session? Theoretically, yes. Is it very likely that it did? Not so much. With no source of hard information on VTPI‘s current financial situation and share structure, traders are left flying blind, with only the candied promises of stock promoters to guide them.
Happy Penny Stocks previously pumped the Canadian Tactical Trading Academy, Inc. (OTCMKTS:CTTG). The email was sent on April 3 and managed to cause an intra-day spike, leading to CTTG crashing over the next few sessions. CTTG is currently 63% below the price at which Happy Penny Stocks alerted their subscribers.
