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By Annette Thatcher
Dec 02, 2014

The Pumps For Thinspace Technology, Inc. (THNS) Continue

Thinspace Technology, Inc. (THNS) has been the target of paid promotions throughout the last few months. Since September, THNS has been pumped by many promoters in a number of campaigns. The latest round of promotions came in on November 30, as THNS stock was pumped for a compensation of $20 thousand by promoters Damn Good Penny Picks, Penny Stock Newsletters, BeatPennyStocks, Prepump Stocks, and PennyStock Buzz.

The promotion in question was successful at elevating THNS stock up the charts, as the ticker gained 11.11% in price on a volume of 1,905,962 shares trading hands to close at the $0.20 mark. Just prior to the campaigns being launched, interest in the company had seemingly plummeted, as evidenced by the low trading volume. Having in mind all the red flags around promotions as a means of attracting investors, the practice of keeping the stock afloat through them cannot be well regarded.Thinspace Technology, Inc. stock chart

The paying party for the latest round of campaigns was not disclosed, so we cannot know whether the company was involved in financing the distribution of the pump emails. We do know, however, that THNS did talk about coverage being posted on the company lately. Thinspace Technology issued a press release on November 26, informing that SeeThruEquity had issued an initiation primer report on the company.

Looking past the coverage that has boosted THNS stock up, a confirmed source of input on the company which can help weigh out Thinspace Technology's potential is the venture's financial disclosure. The latest 10-Q for the period ended September 30, 2014 accounts for the following:

  • Cash: $81.8 thousand
  • Total current assets: $546.4 thousand
  • Total current liabilities: $33.8 million
  • Revenues: $2.3 million
  • Net loss: $19 million

The good revenue amount stands out as a stable aggregate. The other numbers are by no means optimistic, though. The company's cash and asset amounts have decreased significantly. Much more alarming are the accumulated liability amount and the incurred net loss, which are both alarmingly high. Throughout the year, THNS has accumulated huge sums in both of these aggregates, with the last period making for most of the amounts.

Thinspace Technology has sought financings in many occasions over the past year. In the period covered, THNS issued a promissory note in the principle amount of $130 thousand to IBC Funds. On October 8, the company entered into another couple of agreements with the same entity, pursuant to which it issued a couple of promissory notes in the amounts of $300 thousand and $100 thousand, respectively. From the outset of the year, the company has issued a total of 6,451,870 shares of common stock for the conversion of a note in the principle amount of $233,244.

THNSDuring the nine months ended September 30, THNS has issued 2,360,024 shares of common stock for services, valued at $475,603. The company settled a payment of $20.5 thousand for a domain name with 25 thousand shares of common stock. Another aspect regarding equity is the stock grants the company has issued to its employees. THNS has issued a total of 200 thousand shares of common stock for grants worth $34 thousand in the three quarters of the current fiscal year.

Thinspace Technology's financial results, the continued promotion campaigns and the increased issuance are all aspects which should be evaluated before investing in THNS stock.

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