Sitoa Global Inc. (PINK:STOA), an e-commerce facilitator company, has been trying to get noticed recently and today a paid promoter is joining the effort.
The promoter who discloses a $30 thousand compensation from a third party claims STOA has “almost limitless” potential.
The market wasn’t particularly ecstatic over that potential yesterday. STOA closed down 11.76% at $0.30 per share. The volume was above the average, but STOA hasn’t been the most liquid stock out there.[BANNER]
The negative close came after the filing of STOA’s Q3 financial report and the announcement of a letter of commitment for up to $10.8 million from a private funding group.
The aforementioned 10-Q has a line which one doesn’t get to see too often – “gross loss”. The cost of service STOA reported was higher than the revenue for the said service, resulting in approximately $74 thousand gross loss. Further expenses drove the net loss for the quarter to $641 thousand.
STOA also reported barely $5.6 thousand in cash and $13 thousand total assets, but the announced letter of commitment should take care of that for the time being.
STOA has created marketplace platforms for e-commerce which combine e-commerce with social media features. This makes STOA a company with potential, but potential isn’t worth all that much unless one manages to capitalize on it.
