TRTB closed yesterday 60% higher than last Friday and the share price surged to $0.245 during the session. The volume amounted 6.45 million shares, the highest ever in the stock’s short history of trading. Since the beginning of the month, TRTB stock is heading downwards and yesterday’s session provided a good starting point for some new alerts on the stock. TRTB got again included on a promoter’s watch list for today’s session. Traders should not expect too much though, considering that the $26,000 spent on promotions last months delivered almost no results.
The volume yesterday happened maybe on some speculative expectation of news. The financial report for the past fiscal year appeared finally in the OTC Markets page last Monday. True 2 Beauty discussed only the highlights of its recent financial performance in a press release on the same day, and will maybe continue the discussion next week at its first corporate presentation in front of accredited investors, retail brokers and institutional investors.
And True 2 Beauty will have a lot to present to its potential future shareholders. The PR from last week mentioned only the $665,423 sales from the Libigrow and Libigirl brands, and the $51,991 operating profit. What it did not mention was the net loss of over $2.4 million. A further danger is hiding in the outstanding liabilities. They include currently two convertible notes for $108,750. Under the initial terms of the loans, they were convertible into shares of TRTB common stock at a rate of $0.50 per share. Last September the holders tried to exercise their conversion right and the company could not satisfy this. As a result, the game changed and the new conversion price has been set at $0.018 for a share.
Also, the announced $5 million private placement last October turns out to have been for only $300,000. Thus, if True 2 Beauty is to attract any decent investments, its press releases should be able to point out more positive, and more accurate, figures.
