Petar Ilievski

The Promotional Army Fires Up for Searchlight Solutions Inc.(PINK:SLLN)

by Petar Ilievski June 10, 2011
14SLLN_logo.pngSo, 46 followed by a 64 yesterday, there are exceptional volumes for Searchlight Solutions Inc.(PINK:SLLN, SLLN message board) this week. Well, the promotional activity for this enterprise is exceptional. Several newsletters hitting mailboxes every day. The question that remains - what is the end purpose of this activity? SLLN-10.06.11.png

Now, it`s not as if there is no news at hand. Actually, there is for each day - for every several promotions there is a press release. One for Wednesday, one for Thursday. The result, as mentioned, is 46 million shares exchanging hands on the 8th and 64 million yesterday. The stock price, naturally, also reacted to this promotional frenzy. Yesterday alone, the increase was more than 50%, the session closing at 0.0038 per share. In other words, still in sub-penny levels. On a related subject, in yesterday`s case more than 30% of the trading volume was due to shorters.

When doing due diligence, one would surely visit the website of the company as well. One of the first sentences to see is "Searchlight Scientific is a next generation data services company". If so progressive, why would anyone pay promoters to flood mailboxes throughout the week? Several promoters received between $5k and $50k for their actions this week. And, of course, none of them would focus on the balance sheet of the company. One reason might be the label "Pink Sheet Limited Information". Another - the figures in the documents available.

So, there is the quarterly report with an end date March, 31st this year, and the annual report for 2010. Prior to that - there are reports from 2005 or older. According to the quarterly report in questions, the figures show: [BANNNER]

  • $10.9k in total current assets;
  • $440k in total liabilities;
  • $1.2 accumulated deficit;
  • $623k in net loss;

No wonder promoters don't focus on the financial condition of the company. Let alone, the total current assets are equal to the cash at hand on March, 31st. Pretty interesting data for a company of the future. In terms, pretty controversial data for regular shareholders. It is yet to see whether a reverse of this negative financial trend is possible, or stock promoters would continue to determine the course of this stock.

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