260% on the market and its volume hit about 231 million shares traded. Quite an unusual gain, considering the fact that last week SSPTD closed the day with rather negative results.The one and only reasonable explanation on the current high trade appears to be yesterday’s promotion of the stock. According to stockpromoters.com, no compensation for the promotion was paid, though it immediately supported SSPTD and it started the up move.
Apart from the promotion, no news about Shot Spirits have been released recently. Still, in end-November SSPTD was aiming the bottom of the chart despite the positive news by the company. According to the announcement, the Board of Directors of Shot Spirits has approved record and payment dates for a dividend on the restricted common stock of Green Bridge Industries, Inc. As of Dec 15, its shareholders are to receive 1 share of GRBG stock for every 33 shares they own of SSPTD with a payment date Jan 31 next year. Though, the details on the matter are yet to be announced.[BANNER]
Shot Spirits Corporation operates through its wholly-owned subsidiaries and is focused on delivering products and services to the hospitality industry. Last month, a 1-for-100 reverse stock split for SSPTD stock was conducted and the stock hit the gain, however, the price moved down in a while.
According to its 10-Q report, by end-March SSPTD had more assets than liabilities, however, its long-term debt totaled over $1 million and the retained deficit was higher than $8 million. The company has incurred losses from operations, while its cash on hand was not sufficient to cover the liabilities.
Based on these results, investors must carefully follow the future movement of SSPTD stock before they make up their minds.
