The buzz around PTS, Inc. (PINK:PTSH) is still about the merger with Navistar. Promotions kicked in the previous Friday, Aug. 12. After a week of volatile movements, last Friday PTSH closed in the green.
The closing price on Friday was $0.042. This was a 39.07% increase for PTSH with 358 thousand shares changing hands.
The company has a strange way of handling its press releases. It seems PTSH first issues a PR through marketwire. Then, on the next day they issue a shortened version of the same PR through PR Newswire.[BANNER]
Additionally, the company is continually being promoted. One of the latest promotions mentions $10 million in revenues for Navistar. This number is also found in the PRs on Monday and Tuesday. “Our revenues, in excess of $10 million USD…” – for some reason PTSH fails to mention what period of time those $10 million were generated in.
Releasing just shreds of information doesn’t look all that reassuring. PTSH states again that it intends to return to the fully reporting status, and says Navistar has plans to grow and expand into new markets such as the Middle East and Asia.
For now, the promotions and the PRs seem to be enough to keep PTSH’s price in the current range. The deal is expected to be closed before the end of August. Hopefully, then there will be more complete information for shareholders and traders to look at.
