Those who had built their hopes way up for Exit Only Inc (PINK:EXTO), had yesterday every right to be bitterly disappointed.
By the time yesterday’s session came to an end, EXTO stock had already lost 15% in value, eventually closing at $0.0033 per share. However, the decline in price was accompanied by a huge volume spike as almost 37 million shares of EXTO stock changed hands for the time being. The latter is not only a five-week peak, but also considerably higher than the daily average trading volume.
On the one hand, EXTO is a STOP-sign bearer on the OTC market. However, this does not mean that the company has completely abandoned its PR policy. On the contrary, a brand-new corporate update surfaced yesterday, informing investors that the company had now finalized shareholder dividend of 8 million registered shares, which means stockholders get additional 14 shares for every 1000 shares they own.
As it claims, EXTO focuses on acquiring strategic growth companies and intellectual properties both domestically and internationally. The last time any financial reports came up was eight months ago. Back then, EXTO published a full-blown 2009 annual report. It contained:
- $3K in current assets vs. $97K in current liabilities;
- long-term debt in excess of $0.7 million;
- a net loss of $80 thousand.
The lack of bombastic news for the last couple of months indicates that EXTO has yet to acquire what would become the next business tycoon. Will it ever succeed in doing so by sticking to its current way of operation? Well, that is a good question, is it not?
