The surge of TWWI was achieved with the help of a promotional campaign. The promoter, who stood behind TWWI yesterday, is called Penny Stock Picks and he received $15 thousand for the service. The promotion was coordinated with a press release, which popped out the same day.[BANNER]
The company announced the launch of its new website – dayilyhotdeal.com. The website is devoted to the social shopping deal-of-the-day business.
A month ago, the company issued a 10-Q report, which revealed the company had issued 170 million new convertible notes and 380 thousand new warrants. With the accrual of these dilution instruments, the future value of TWWI is under question.
But what is even worse, is that the future of the company in general is under question. TWWI’s auditors admit that “recent operating results give rise to concerns about the Company’s ability to generate cash flow from operations sufficient to sustain ongoing viability”. The statement was made on the basis of the following financial issues:
- $3 million accumulated deficit
- $1.4 million negative working capital
- $500 thousand net loss for the nine months ended Sept. 30, 2010.
That being said, it is curious how long the paid promotion will continue to artificially keep the stock price level.
