The recent performance of True 2 Beauty stock shows that maybe the promotional alerts last week were not so perfectly timed, coming after TRTB share price had already exhausted the upside potential by touching the 30 cents resistance. Still, the promoter achieved the highest trading volume that TRTB ever had in its short trading history on the Pink Sheets, followed by traders trying to top that volume through selling shares of True 2 Beauty as soon as they can. Yesterday, the stock lost another 22.78% in value and closed at 20 cents on the second highest trading volume of 2.06 million shares.
Now it looks like only some lagging promo effects can be expected. Last Thursday, TRTB also enjoyed the coverage of a small cap research firm named Grass Roots, whose free research report could have potentially reached 8.6 million investors. TRTB has not been mentioned in Grass Roots disclaimer among all the other companies that paid for its service, but it is unlikely that no payment whatsoever has been done.
In the meantime, True 2 Beauty has set February 15, 2011 as the date for the announcement of its annual report for the fiscal year ended October 2010, although the last 10-Q said the company had no cash to keep existing up to that date. Further on, TRTB future plans were left undisclosed, after the failed mining business and after the entry into the beauty industry got canceled last year because the company’s potential partners backed down.
Under such circumstances, it will be interesting how many investors will find any reason to buy the stock of the company with lastly reported $389,000 in liabilities, $157,000 in assets and no revenues ever. Also interesting is why TRTB accountants needed the additional time to prepare the financial statements of a business of such a scale.
