Martin Tsvetkov

Failed Promotion for King Resources, Inc. (PINK:KING) Slashes Market Value by 28%

by Martin Tsvetkov Apr 10, 2012

Watch the video to learn about the probability of King Resources, Inc. (KING) Chart Signal as of Apr 20 2014

This free program will calculate the probabilities of King Resources, Inc. (KING) stock chart

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KING_chart.pngKing Resources, Inc. (PINK:KING, KING message board) crashed for the umpteenth time yesterday after the company tried to impress investors by introducing another merger candidate for a graphite mining project. The accompanying promotion also failed to live up to expectations.

KING closed trade at $0.0013, down $0.0005, or 27.78% from its previous close on Apr.

5 when the company disclosed it had brought the merger with Grid Grabber. More than 93 million shares of common KING stock changed hands setting a new six-month record, partially due to the paid promotion launched on Sunday evening.

Unlike yesterday's news, the Apr. 5 announcement brought KING stock a 20% increase in value on a volume of 51 million shares.

KING_logo.pngAlthough KING recently revealed not to have any intention of performing a reverse stock split, this does not necessarily mean that such a scenario is completely out of question. At present, the company's shares are traded dangerously close to the triple zero zone. So, it could only take a few more slumps for KING stock to shrink to a few pips, which would definitely pose the risk of a reverse stock split.

KING's annual report for the 2011 fiscal year shows that the company has no assets whatsoever, short-term liabilities of $105 thousand, zero sales and a net loss of $31 thousand. What is more, KING's accumulated deficit so far amounts to $17.8 million. Is the company worth such an investment? You decide for yourselves.

Watch the video to learn about the probability of King Resources, Inc. (KING) Chart Signal as of Apr 20 2014

Hotstocked Precision will calculate the probabilities of King Resources, Inc. (KING)

Rating:
Size: 656KB
Version: 1.1
Platform: Win/Mac
Downloads:
FREE DOWNLOAD

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