Ho Low Will Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) Fall?
Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) lost another substantial chunk of its market value yesterday, continuing its slide further into triple zero land.
As the charts indicate, the ticker managed to pop its head above the water for a few minutes immediately after the session’s start, but it wasn’t long before it sank like a stone once more.
Which is not really a surprising turn of events. Suffice it to say that investors are still aggravated by TPAC‘s latest financial report that hit the web just a few days ago, looking like this:
- Cash & current assets ~ $23 thousand
- Total assets – $31 thousand
- Total current liabilities – $771 thousand
- NO REVENUES
- Net Loss – $3 MILLION
The worst part of the report was the dilution statistic it gave. The news that as of June 15, 2015 TPAC had 3.7 BILLION shares outstanding hit investor confidence in TPAC like the proverbial ton of bricks. After all, just three months ago, the company’s outstanding share count was almost eight times lower.
Even the report announcing that TPAC has retried more than 700 million shares of common stock didn’t do much to return confidence back to investors. It may have been responsible for the push that we witnessed in the session’s early trading, but at the end of the day, the news couldn’t give investors much hope, seeing as how even after said reduction of shares outstanding, TPAC‘s stock has been diluted 600% in the last three months.
It looks like TPAC will have to do a lot better than that if it wants to recover some ground or even momentarily halt its ascent – and at the moment, it looks really doubtful that the company is capable of such a feat.