The low price of TMSH allowed for two subsequent large jump-ups last week on the enormous for the stock demand, but in the last trading session of the week the share price made a return back. TMSH dropped 23.33% down and closed the market at $0.115 on a trading volume of 1.66 million shares. The shares got already overbought, and if the company does not issue any official confirmation of the ongoing rumors the price surging up might be already exhausted.
A post on ihub message board claimed at the beginning of last week that a privately held company named Global Renewable Energy Systems Inc. (GRES) and having million-dollar projects in the bio-fuels and solar energy sectors is about to become public through a reverse merger with the shell company Timeshare Holdings. The initial argument was a coincidence in the names of the officers of both companies: it looks like TMSH Treasurer is also GRES’ CEO. Later, a list of GRES projects along with a supposed e-mail response of GRES Consultant to the Board of Directors confirming the company’s intentions to become public soon got also published on ihub.
TMSH latest financial results are for some periods back in 2008 and they show that the company had hardly any operational activities. The alerts that supported the surge up of the share price and the trading volume last week sound also very suspicious, not revealing the compensation paid for TMSH inclusion in the newsletter of the promoter.
