Triton Distribution Systems, Inc. (OTCMKTS:TTDZ) Breaks Through 1 Cent
For a long time the stock of Triton Distribution Systems, Inc. (OTCMKTS:TTDZ) was only sporadically traded lingering at the bottom of triple zero price ranges. Now though things are heating up and investors are starting to pay attention to the stock once more. Last week TTDZ was able to run from an opening price of $0.0033 on Tuesday to a close of $0.0092 on Friday. At the last day of the week it even managed to reach an intraday high of $0.0099 just barely missing to touch on 1 cent per share. In early trading today it soared right past it and is currently 21% up at $0.0112
The reason for this sudden change of sentiment among traders shouldn’t be a surprise as TTDZ is going to join the numerous pennystocks that decided to enter the emerging marijuana industry. The switch in business plans is going to happen after TTDZ is bought by the newly formed company Green Cures Inc.
As part of the deal the CEO of TTDZ is going to surrender quite a lot of his shares, more specifically 1 Series A preferred share, 1 million Series B preferred shares, 8 million series F preferred shares and 305 million common shares. As a result the number of outstanding shares will be reduced to 1.4 billion out of the 2 billion authorized. In addition 4,062,500 Shares of the subsidiary Privileged World Travel Club, Inc are going to be distributed among shareholders of the company in the form of dividend.
TTDZ are also going to sell around 740 million shares priced at $0.004, or less than half of the current market price, in order to receive $3 million from an offshore investor. If the impact of the fresh funds is going to offset the rather massive dilution remains to be seen.
With no announced products and no updates since the PR from February 5 TTDZ is an extremely risky bet. The site greencuresinc.com has just been launched and contains little useful information while allcannabis.com has an “under construction” sign.
There are many uncertainties around the company at the moment and any investment should be preceded by careful consideration of all the risks. Do your own due diligence and don’t make decisions based solely on the hype around a stock. Some of the other new comers to the marijuana industry are starting to lose positions after making impressive hype-fueled runs up the chart. Extreme Biodiesel, Inc. (OTCMKTS:XTRM) closed Friday’s session 5% down at $0.05. Cyber Kiosk Solutions, Inc. (OTCMKTS:CYBK) lost 4.7% and dropped to $0.30 per share.
