Yesterday, HPC POS System, Corp. (OTC:HPCS) got its only session with any trading activity, a day after the company issued some information on its current activities. In fact, the trading volume exploded yesterday, leading to high volatility of the share price. 
OTC Markets report that the session closed with a 21.43% decline from the previous close at $0.11 for a share. During the session, HPCS share price also ranged between $0.05 and $0.12 due to the extremely high trading volume of almost 7 million shares.
The company’s only announcement recently was published on Monday, but it was more like a description of the business of HPCS subsidiary Mohan Corporation, and respectively did not contain any news. According to the PR, the subsidiary is a manufacturer and distributor of fragranced oils and incense from India and has 30 distributors on the US market.
Mohan Corporation has not been mentioned in the latest quarter report of HPCS as a subsidiary of the company, and HPCS is presented as not having any significant operations and revenues. Also, at the end of June its total assets consisted of $62 in cash, while its liabilities were all current and almost reached $74,000.
An 8-k from the end of November is also related to HPCS debts, namely to the $13,600 that are still due under a $50,000 convertible promissory note issued in 2009. The filing states that $3,000 of that indebtedness was sold by the note holder to an investment company in exchange for 3,000,000 newly issued shares of HPCS.
At the same time, the 10-Q reports says the remaining $10,600 under that note are also convertible at the holder’s option into up to 10,600,000 shares, therefore the next potion of dilution could come soon.
