HoleInOneStocks to Dig a Hole in Smack Sportswear’s (OTC:SMAK) Market Cap
The most recent penny stock that has reached our pumped jobs database has been around since 1994, yet its capital structure, or the lack thereof (to be more precise), bears an uncanny resemblance to a classic shell company pretending to provide high-quality custom-designed volleyball apparel.
This is what Smack Sportswear (OTC:SMAK) is all about at the moment. What matters most now, however, is hardly SMAK‘s wishful thinking of becoming a leading supplier of volleyball apparel. Rather, the focus is shifted towards a full-blown promotional campaign that has got a firm grip on the stock today. Both HoleInOneStocks and PennyStockParlay expect to recieve $25 thousand for raising awareness about SMAK. The former calls SMAK the “monster holiday pick of the year”, while the latter pretends to have prepared the stock for a giant takeoff at today’s opening bell. Judging from the latest market data, neither statement appears to have proven right. The stock failed to lift off at market open and has so far enjoyed modest investor interest.
Promoter HoleInOneStocks touts SMAK‘s premier brand as one that is being worn not only by professionals, but also regular volleybal fans and teams. So far, so good. What are the financial aspects of this supposedly big business achievement? Here they are:
- zero revenues for the last four years on record
- cumulative net loss of $195 thousand incurred in four years of presumably active operations
- zero assets in three out of the last four fiscal years (except for the $3 thousand in cash in 2010)
- aggregate liabilities of $58K accrued during the same time frame.
The figures mentioned above speak for themselves. Do they represent a company that has already developed an extensive distribution network to make sure that its apparels reach as many target customers as possible? Not even close.
Tp wrap it up, let us see how previous pumps carried out by the same promoters turned out in the end:
- Anavex Life Sciences Corp. (PINK:AVXL) – promoted on Nov. 13 for $25 thousand, AVXL enjoyed a momentary 8% surge before dropping big time shortly afterwards.
- Terra Tech Corp. (OTC:TRTC) – pumped on Aug. 22, the stock scored a minuscule 3.57%, only to crash on the three subsequent sessions.