Yesterday, TAMO reported a record volume for this year and a much less important jump in its share price. 4.27 million shares were traded and TAMO closed at $0.34, or around the middle of its recent trading range. It seems that more cannot be expected, unless the promotions have again began. The last breakup of the trading channel happened in the beginning of August and it was strongly supported by some “third parties”.
At that time, $3,000 were paid for one week of advertising TAMO stock and the promises must have been enormous. In addition, according to investor message boards, a promoter called Prospector Newsletters has claimed in his alerts that a “phenomenal run” can make TAMO reach $50. No compensation disclosures can be found on that promoter’s website, but it seems that it would not be the only case of that art.
Also at that time, TAMO has been covered by Skymark Research, recently involved in fraudulent stock promotions. Further, the company was simultaneously a client of Liberty Analytics Co., whose website is unfortunately also not available anymore.
Since the peak of the promotions, TAMO shares have lost as of yesterday 64% of their value, and appear still too optimistically priced. In its latest 10-Q, the company declares assets for $14.6 million, consisting mostly of undeveloped and unevaluated “Oil sands properties”, recorded with a book value of $14.2 million.
The company was previously engaged in providing wireless broadband access, but abandoned that business in October 2007. Up to date, TAMO have never had any revenues and even if the acquired properties are actually that valuable, the price of their stock should not reach even half of its current market value.
