SourcingLink.net, Inc. (OTCMKTS:SNET) Crashing While Pumped

[[tagnumber 0]][[tagnumber 1]]SourcingLink.net, Inc. (OTCMKTS:SNET) has failed to deliver for quite some time now. This is probably one of the reasons for which the stock has such a terrible performance. The ticker’s market valuation is just short of $2 million and the daily volumes are not something to write home about.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The financial situation also hasn’t improved in the past few years. In fact, it has declined and the latest financial reports show that [[tagnumber 6]]SNET[[tagnumber 7]] has stopped all revenuegenerating activities. Here are just some of the numbers contained in the company’s financial report for the year ended March 31, 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $11 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $198 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $424 thousand[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: $1.74 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These numbers are absolutely terrible even by OTC standards, but are far from the biggest red flags surrounding the company. [[tagnumber 6]]SNET[[tagnumber 7]] has been pumped over and over and the results are usually quite grim. The last time we wrote about them was back in September 2013 when the company was promoted by StockMister.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Currently we see that [[tagnumber 6]]SNET[[tagnumber 7]] is touted by outlets controlled by Stellar Media Group, LLC who received $25 thousand in compensation for their efforts. The company is also trying to do its best in aiding the promotion. Yesterday [[tagnumber 6]]SNET[[tagnumber 7]] issued a press release that announced a 4 phase exploration plan for their Eldor property in Northern Quebec, Canada.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The thing is that [[tagnumber 6]]SNET[[tagnumber 7]] already took two samples from the same property and bragged that they contained high values of Cerium (Ce), Lanthanum (La) and Yttrium (Y) and this was way back when we last wrote about the company stock in the end of 2013. What does that tell you? It tells us that the company’s press releases seem to come handinhand with the paid promotions and the people issuing them aren’t even exercising their imagination in order to provide something interesting for a change.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering all this it’s not strange that [[tagnumber 6]]SNET[[tagnumber 7]] dropped 9.43% in yesterday’s session and is 27.08% down in today’s trading. [[tagnumber 2]]

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