Kaloyan Gadzhev

Another Successful Promotion for Onteco Corp. (PINK:ONTC)

by Kaloyan Gadzhev May 18, 2011

While the promotions work well and the company issues announcements about positive developments, a current financial report is still missing. The latest one available is the amended annual for 2010 and it doesn't look particularly impressive:

  • $62 thousand cash
  • $125 thousand total current assets
  • $591 thousand total current liabilities
  • no revenue and net loss of $601 thousand

ONTC_logo.gifIf the company were to provide some current positive financial data, it could help keep at least part of the promotional gain in the price. Until then, the most likely short-term result after the promotional hype goes away is a drop.

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