Jovita Baltrusaityte

The Stock of Sector 10, Inc. (OTCBB: SECI) Stuck Fast Below $0.25

by Jovita Baltrusaityte August 17, 2009
6logo.pngDid the Board of Directors rise to the occasion when they approved a 1-for-10 reverse stock split on May 19? Since that day, the stock has been stuck in the tunnel between $0.01 and $0.25 and isn't able to open the door of $0.26. Even after a rise of 15% on Friday, the share price jumped up only to $0.15. Is anything going to help Sector 10?

The provider of emergency disaster response equipment and related support services, Sector 10, Inc. (SECI.ob, or OTCBB: SECI) has recently made a deal with Quality Stocks which was compensated by $15,000 and 75,000 shares. In total, that would be over $26,000.

This sum of money looks really huge in comparison to $25,000 of current assets, from which $18,000 is inventory to be sold. However, SECI continues to plunge into debt and, as of June 2009, liabilities ballooned to over 1 million dollars. If this financial situation persists, the company will soon lose its entire property.

In addition, 4 employees may also leave the company. Until June 30, 2009 the CEO and CFO were working part time. Doesn't that look a little bit funny when the main executives are only part time workers at the company?

All in all, what is your impression about Sector 10, Inc.? Does it look like an attractive investment opportunity to you?

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Reference:

http://www.sector10.com/

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