Gdt Tek Inc (OTCMKTS:GDTK) Making A Comeback
Today’s trade session started good for GDT Tek Inc (OTCMKTS:GDTK) after they lost about 8% during yesterday’s trading. Today their stock managed to climb from $0.052 to $0.059 in just half an hour after market open.
This movement may be attributed to the pump emails that are flying in from different paid promoters. The press releases that they put out for the mere purpouse of ensuring investors that they are not dead shouldn’t be underestimated also.
We can only presume that insiders who own substantial amounts of stock are behind these promotional emails. The reason for our suspicion is the fact that there was massive dumping of stock on May 14 when the total volume of stock traded was 2.5 million shares at a total trade value of $148 thousand. That volume is outrageous compared to GDTK‘s avarage of 298 thousand.
They claim that they are finally going to file their financial reports in one of their PR’s, which would be good news if its true, since they haven’t filed any financial reports with the SEC from July 2011 and their latest annual report that can be seen in OTC Markets is from June last year.
The figures in the above mentioned report are horrific and we reckon things haven’t changed a lot for 1 year. Let’s take a quick peak at the numbers of prime interest from the report, which are listed below.
current assets: $0
total liabilities: $8.9 million
revenue since inception: $0
net loss: $1 million
When you put the accumulated deficit of $26 million besides these numbers the report starts to look like something you would put in a stock exchange horror movie. Also, of course due to the fact that they have failed to file financial reports for so long that they have been marked with the red triangle in OTC Markets that is used to indicate companies that are in the OTC Pink Limited Information category.
With all that in mind we don’t really think that even their press releases are worth the time to read. All in all they prove themselves as a risky investment choice, providing little information about their real financial situation and trying to attract investors with paid promotions and press releases. Make sure you do your own due diligence before taking a decision to invest in GDTK and weigh out all the risks.