Trans Global Group, Inc. (OTCMKTS:TGGI): Devastating, as Expected
Trans Global Group, Inc. (OTCMKTS:TGGI) is not deviating from expectations- from the very negative expectations we had about it. The ticker slid 14% and is back into triple-zero ground. TGGI slid to $0.0006 already, as more than $301,000 worth of shares was shed. All of this happened without a promotion, a not unusual event for underpriced tickers.
For TGGI, the sooner the drama ends, the better, as hundreds of millions of shares were stirred up after years of barely a glimmer of activity and truly rock-bottom prices. If you still believe a rebounce is possible from $0.0006, think again- TGGI has traded between $0.0001 and $0.0002 most of the time, swinging wildly up and down.
We don’t even need to mention the fame of CEO Chris Clarke, involved in numerous other penny stock companies and receiving a court order for aggressive marketing practices. This is in case you don’t see enough reasons to stay away from TGGI, as well as other similar rock-bottom penny stocks that crawl out of nowhere.
And even a breakthrough to a higher range is no guarantee. Just look at the US Energy Initiatives, Corp. (OTCMKTS:USEI), which managed to hop over to two whole cents before losing 90% of its value.
But if you are still in for double-zero drama, you may try out 3D Eye Solutions, Inc. (OTCMKTS:TDEY), a producer of 3D picture and sound technologies. The ticker is having a nice and active run, growing six times since mid-September. But here as well it is easily seen that deep corrections happen fast and without warning.
And on top of all the drama, TGGI went out with a “corporate update” on October 16th, when the shares had already started their dramatic drop. The company is striving to become current with the OTC markets, as so far it offered only old filings and it is unknown if its activities yielded any results. This may also mean that TGGI will be more active with press releases- perhaps managing to fuel another run upward. So far, TGGI only revealed:
- $896 in checkings/savings, comprising total current assets
- $50 thousand in current liabilities
- $47 thousand in quarterly revenues
- $8.9 thousand in quarterly net loss
Now, we have to see if the subsidiary VersaGreen Energy will manage to take the ticker to a more respectable mode of trading. TDEY announced there would be no reverse split in the shares, and it will try to deal with the high liabilities as well as possible.
But until TDEY morphs into a solid, fundamentally supported share, avoid putting in sums that you cannot afford to have wiped out completely within days.