TheDirectory.com, Inc. (OTCMKTS:SEEK) Slips Another Step Down
Despite TheDirectory.com, Inc. (OTCMKTS:SEEK)’s PR effort to promote the company stock, the ticker is losing value. The seemingly optimistic press releases just aren’t enough to push the price back up and it all might quiet down pretty soon if there is no actual development to be announced.
The company filed its most recent financial report covering the period ended August 31, 2013 this Monday and we can’t say that the numbers containted in it are impressive. If it wasn’t for the press release announcing that SEEK has supposedly registered $250 thousand in sales for October we reckon that the drop would have been even more significant.
Let’s take a look at the numbers of prime interest from the above mentioned report.
- cash: $10 thousand
- total current assets: $402 thousand
- current liabilities: $1.4 million
- quarterly revenues: $80 thousand
- net loss: $11 thousand
If you have been following SEEK closely you would know that the company finished the same period of last year at a profit, despite the fact that there were more expenditures. This doesn’t speak good at all and considering the small amount of cash they have on hand and the huge liabilities we can say that the situation is looking grim.
This is exactly why the stock’s value is still going down, despite all the PR effort. SEEK dropped a hefty 21% in value yesterday, while more than 110 million shares switched hands generating a dollar volume of $468 thousand.
Today’s session also didn’t start rosy as SEEK gapped down and opened at $0.0033 per share. By now the stock has dropped 25% from yesterday’s close, currently being traded at $0.0030 with a massive 68 million traded shares.
The ticker is one of the most volatile at the moment and having all this in mind we would advise you to do a lot of due diligence and weigh out the risks if you have any thoughts of investing in this particular stock.
Infinity, Inc. (OTCMKTS:IFNY) had a disastrous session yesterday as the company stock lost a whopping 53% of its value on quite a lot of traded shares. Great American Energy, Inc. (OTCMKTS:SLCO) on the other hand are still climbing the charts and gained 38% yesterday on a massive volume.