Anastas Gegov

Yesterday's Dip of Tungsten Corp. f/k/a Online Tele-Solutions Inc. (OTCMKTS:TUNG)

by Anastas Gegov June 20, 2013

As the serious trading started after May 1 the company has generated quite good volumes and trade values. This leads us to believe that a lot of insiders made high profits as virtually all of the stock was in the hands of the seed shareholders (who got it at promotional price) and the previous and current CEO's, CFO's, and so on.

988LOGO.pngThe most recent news about the company are about their latest filing with the SEC. They filed their quarterly financial report covering the period ended April 30, 2013. We see a movement in their finances that can be optimistic for some. Let's take a quick moment to check out the numbers of prime interest from the report in question.

 

  • cash: $53 thousand
  • total assets: $1.2 million
  • current liabilities: $134 thousand
  • net loss: $89 thousand
  • total liabilities: $1.2 million (including stockholders deficit)

 

46XUII_chart.pngThey seem to be doing better considering that they have 10 times more cash now than they had in January this year. However, it is still unknown if they will be able to make a profitable business. As we can see they have no money listed as exploration costs which is rather bizarre considering that they had quite a lot of press releases in the period, covered in the report, that indicate they are exploring for oil and gas. Instead of that all their expenses come in the form of officer compensation, professional fees and general & administrative expenses, so be sure to do your diligence before you decide to invest in them.

Another ticker that we are keeping a close eye on is that of Xumanii Corp f/k/a Medora Corp (OTCMKTS:XUII). They didn't do so well in yesterday's trade session either, as they registered their third day in the red, going a further 11% down and closing at $0.18. Western Graphite Inc (OTCBB:WSGP), which we covered earlier didn't do so well either as it slid from $0.735 to $0.59 yesterday marking a 21% downfall for their stock.


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