Yesterday SENZ share price was headed downwards again and lost 16.43% on almost 2 million share volume within the session. Finally, the stock closed at $0.117, but looks still tremendously inflated for a company with no established business and for which stock promotions and invented press releases seem to be regularly on the agenda.
On Tuesday, two promotions were disclosed, one of which was a one-week advertising contract worth $5,000. Being rarely the case, SENZ share price showed almost no reaction to the promotions and the massive selling that followed yesterday could have hardly brought much of a profit. Either SENZ promotions are disclosed with a delay, or their promoters could qualify among the most unsuccessful ones observed on the penny stock market.
SENZ PRs seem also not to reach the public anymore. Also on Tuesday, the company announced to be anticipating “significant revenue growth during the fourth quarter of the calendar year, 2010. Revenues for the quarter are expected to exceed $1 million”. Just to remind, as of end-May SENZ had never had any revenues, nor any cash or assets that could generate such. Moreover, the company has been incorporated in 2001 and has not had any operations between 2002 and 2009.
Though the lack of any products or inventories to sell, Sport Endurance filed in August a letter of intent to acquire a company, which according to the filing “distributes its food products to approximately 1000 stores, throughout the Southwest, and will immediately begin to distribute the Sport Endurance line of Liquid Gel Caps.” By now, no management plans about how the $2.01 million cash part of the purchase price should be paid have been announced.
