Solar Thin Films, Inc. (OTCMKTS:SLTZ) Springs Into Action
It seems the current trend for pumpers is to find an almost dead company and try to make it one of the top traders. Last week they succeeded bringing Data Call technologies, Inc.(OTCMKTS:DCLT) up to 4 million traded shares from as low as 284 during one of the only 5 days it got traded in July. Inspired by this feat it appears that the next target would be Solar Thin Films, Inc. (OTCMKTS:SLTZ).
We have received more than 10 alert emails since Saturday touting the company. The main party that is leading the campaign is Advanced Marketing Services, LLC through Leading Stock Alerts and Penny Authority. The sum they received amounted to $30 000. For the same compensation Awesome Stock Pick and VipStockReports also got convinced to join the promotion.
The company itself is also trying its best to create some hype coming out with a couple of positive-sounding news. First it announced a contract to construct its first Eco-House in Highland Park, New York. Seeing the lack of interest they followed it with something containing way more impressive numbers – an agreement in principle for the construction of three photo-voltaic solar fields. SLTZ expect to complete the first field amounting to $40 million before the end of the year.
And early in the morning today came another $10 million agreement in principal, this time for the construction of a school and a clinic in Uganda. Even we got excited after reading such news but all it took was one look at their finacial reports to bring us back down to earth. For the quarter ending March 31 they had: … actually it is better to see it for yourselves. STLZ have zero assets, zero revenues and a net loss of $140 thousand. They have been unable to pay back loans from 2006, and have defaulted on a $500 thousand promissory note from 2008 so considerable dilution is highly likely.
The picture gets even grimmer when you take a look at our article about the company from the beginning of 2012. Back then SLTZ had resorted to the same strategy of announcing outrageous $350 million energy projects in Europe and a $40 thousand pump campaign. The company is currently trading above a dollar only because it did a 1-for-500 reverse split in May.
The right decision should be to avoid the ticker altogether even if you have plenty of experience playing pumped stocks.
Another company that rose on after breakthrough news was Petrotech Oil & Gas Inc. (OTCMKTS:PTOG) who added 62% to their value after discovering free flowing oil on Friday.