Toron, Inc. (OTC:TRON
, TRON message board
) is a company with no assets and no revenues, though it intends to engage in the exploration of gold properties. It is yet to see if the efforts to gain more popularity for TRON stock through announcing old news and distributing paid promotional alerts will have any further effects.
TRON closed the last trading session at $0.104 after the share price increased by 6.12% from the previous close. The trading volume was 2.1 million traded shares and it is the highest since TRON is trading on the market.
In less than two months, the share price of TRON has moved in a range between $0.045 and $0.13, which makes it a good pick for speculations.
Yesterday, some stock promoters must have recognized that fact, and respectively TRON was featured in two promotional newsletters, one came during the trading session, the other one late in the evening. Our database shows that a compensation of $17,000 has been paid to the promoters, and they state explicitly in the disclaimer that the paying party would most probably sell TRON shares on the market at the time of the advertisement. The effect of the promotion seemed strong yesterday as the share price jumped to $0.11.
The last 10-Q of the company shows that TRON had at the end of July 2011 $2,000 in cash as the only asset. On Monday afternoon, the company published a press release which referred to an acquisition agreement for certain mining claims located in the Province of Quebec, Canada. The agreement was signed back in August and TRON had taken the obligation to issue 2,000,000 post-split shares of its common stock and make cash payments of $100,000 over four stages.
According to the corresponding 8-k filing, the first two stages have been successfully completed and TRON plans to close the next two by December 29, 2011. There is no certainty about how TRON will provide the needed cash, but at least its latest financial report shows the company has no previous debts or obligations.