Safe and Secure TV Channel, Inc. (PINK:SSTC) ended the day with over 30% gain after the stock was promoted by a couple major newsletter providers.
A tremendous trading volume and price increase were induced both by the news release and the paid promoters, pushing the stock from behind.
Third parties have paid a total of $50 thousand to have the stock promoted through at least three different newsletter websites ran by two promoters. One of the service providers signed a one week advertising deal, so the stock price progress that was made today might still be sustained for a short period. This usually doesn’t happen when promoters get paid for only one day of coverage.[BANNER]
On their own accord, the television network operator announced they have expanded the programming with more than 250 hours of content. This creates an impression of a growing business, however the SEC filings show quite the opposite.
The company deregistered from filling with the SEC at the beginning of 2010. The latest unaudited financial statements available through otcmarkets.com show that the company had virtually no cash by the end of June 2010, and their revenues continued to decline. The loss was once again covered with additionally raised capital and loan money.
