TNRI closed the last trading session with an 18.18% higher share price at $0.013. The stock got also a trading volume of 26,500 shares, which looks like a good starting point for a new promotion. Today, additional demand could make the stock price surge up the way it did in the middle of December, when TNRI got its previous promotions. This time the compensation for yesterday’s e-mails was $30,000 for one promoter and for just one day of investor awareness.
Titan Resources latest available quarter report reveals strange facts. In September 2010, the only assets of the company, with which it now plans to hit the silver market, consisted of $1,240 in cash and $324,000 in expenditures made in connection with some mining properties. Last year, the company owed $400,261 as compensation to its director, and settled that amount through issuing over 46 million common shares. That number represented roughly an 85% stake in the company. 25 million shares were canceled after that, but yet if the director is still holding the remaining shares it would mean that TNRI has a tiny public float and its share price could get really volatile.
Also interesting are Titan Resources outstanding and convertible into common shares notes. The amount due is not that impressive, only $42,768 as of September 30, 2010. It is the conversion rate that is mind-blowing: the notes can be converted into common stock at a ratio of $0.00001 per share, or over 4 billion new TNRI shares.
Lastly Titan Resources announced in December to have acquired a 66% interest in a silver bearing property located in British Columbia, Canada. In January TNRI said to have completed the initial analysis of the airborne survey on that property, though the press release contained no information about identified mineralization, just general statements and implications. Further more, TNRI is not reporting to the SEC and that new acquisition has not been confirmed in any way.
