Following a series of two giant leaps of 100% and 75%, respectively, Team Nation Holdings Corp. (OTC:TEMN) scored a loss during the latest trading session yesterday.
Closing at $0.0012 per share, TEMN went down $0.0002, or 14.29% in value. Nevertheless, it is the company’s second highest close for the last six months (followed the six-month high of $0.0014 it reached the day before). While yesterday’s trade was also marked by increased investor interest, TEMN barely shifted 38.4 million shares, i.e twice as less as the record-breaking 79 million, also hit last Wednesday.
According to the latest 8-K form filed by Team Nation Holdings Corp. (OTC:TEMN), the company has now changed its name to Emperial Americas, Inc., following an acquisition. The company’s official site is currently down, which suggests that a new one might be in the making to reflect the change of controlling interest. Founded in 2008, Emperial Americas was a limited liability company specialized in importing, marketing and selling beverages nationwide. In accordance with the acquisition mentioned above, the company has now become a corporation and, as a consequence thereof, gone public.
TEMN’s future market performance will be largely dependent upon what the audited financials of the acquiring company will show once they have been disclosed in an additional 8-K form. Because, as shown in the Q3 report, TEMN’s balance sheet included $16K of cash, a working capital deficit of $3.15M, $379K in revenue and a net loss of $416K.
