{"id":5595,"date":"2015-05-12T15:11:09","date_gmt":"2015-05-12T15:11:09","guid":{"rendered":"\/?p=5595"},"modified":"2015-05-12T15:34:07","modified_gmt":"2015-05-12T15:34:07","slug":"pumpers-throw-a-spanner-in-abby-inc-otcmktsabbys-wheels","status":"publish","type":"post","link":"\/articles\/pumpers-throw-a-spanner-in-abby-inc-otcmktsabbys-wheels\/","title":{"rendered":"Pumpers Throw a Spanner in Abby Inc (OTCMKTS:ABBY)&#8217;s Wheels"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90059\/abby.png\" border=\"0\" width=\"400\" height=\"178\" \/>Abby Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a>) came up with some good news shortly before the end of last Thursday&#8217;s session. They said that everything is on schedule around the acquisition of a majority interest in The Evans Corporation.<\/p>\n<p>The deal was first announced three and a half months ago and seeing that the company is actually managing to keep up with its deadlines is a good (and somewhat rare) thing in Pennyland. What&#8217;s more, investors who have done some research on The Evans Corporation might be happy about what they have found. The future majority-owned subsidiary is in the car brokerage business and, judging by the reviews around the internet, they do have some happy customers to brag about. <\/p>\n<p>Evans is a private company which means that we have no idea what its financial situation is. The chances of it being worse than <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong>&#8216;s, however, are slim. Here&#8217;s what <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong> recorded at the end of last year:<\/p>\n<ul>\n<li>cash: $1,265<\/li>\n<li>current assets: $4,518<\/li>\n<li>current liabilities: $383,699<\/li>\n<li>yearly revenues: $24,107<\/li>\n<li>yearly net loss: $1,489,674<\/li>\n<\/ul>\n<p>As you can see, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong>&#8216;s financials are quite catastrophic, even by the low Pennyland standards. The fact that the stock finished Friday&#8217;s session with over $200 thousand in dollar volume, however, goes to show that many investors are hoping for some better results when The Evans Corporation is on board.<\/p>\n<p>Whether their hopes will be realized is for the future to tell, but in the meantime, we must point out that despite the good news, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong> refused to move in the right direction. In fact, it wiped out more than a third of its value and it closed Friday&#8217;s session at $0.15 per share. Things aren&#8217;t looking much better today. A few minutes after the opening bell, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong> is sitting at just $0.08 &ndash; a further 46% down.<\/p>\n<p>Finding the most likely culprit for the truly appalling performance is not that difficult &ndash; <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong> is being pumped. The promotion started after May 7&#8217;s closing bell and since then, Momentum OTC and their affiliated newsletters have sent out more than ten email alerts in exchange for $11,500. People who have been around penny stocks for long enough know that promoted OTC tickers are extremely dangerous and <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong>&#8216;s free fall proves the point rather well.<\/p>\n<p>Experienced investors also know that when researching a company, it&#8217;s always good to take a look at the older press releases and see how the forward-looking statements have affected the balance sheet. In <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong>&#8216;s case, if you search hard, you&#8217;ll find out that in Q4 of 2013, they were preparing themselves for what they called the Trucks &amp; Tatas Tour &ndash; a food truck tour that was supposed to attract the adult audience in seven US cities. We don&#8217;t know whether the tour took place, but we do know that 2014, with its $24 thousand in revenues, wasn&#8217;t a particularly successful year.<\/p>\n<p>Last but not least, experienced investors always take a look at the share structure and check to see how bad the dilution is. Unfortunately, in <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ABBY\">ABBY<\/a><\/strong>&#8216;s case, some more bad news pops up. The company executed <strong>a 1 for 150 reverse split on September 15, 2014<\/strong> which brought the O\/S count down to <strong>just over 2 million <\/strong>at the end of Q3 of last year. Three months later, it was already sitting at<strong> more than 49 million<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abby Inc (OTCMKTS:ABBY) came up with some good news shortly before the end of last Thursday&#8217;s session. They said that everything is on schedule around the acquisition of a majority interest in The Evans&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[506],"class_list":["post-5595","post","type-post","status-publish","format-standard","hentry","category-news","tag-abby"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=5595"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5595\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}