{"id":945,"date":"2012-12-19T06:41:00","date_gmt":"2012-12-19T06:41:00","guid":{"rendered":"\/?p=945"},"modified":"2013-03-25T21:06:16","modified_gmt":"2013-03-25T21:06:16","slug":"penny-stock-parlay-pump-of-smack-sportswear-otcsmak-crashes-hard","status":"publish","type":"post","link":"\/articles\/penny-stock-parlay-pump-of-smack-sportswear-otcsmak-crashes-hard\/","title":{"rendered":"Penny Stock Parlay Pump of Smack Sportswear (OTC:SMAK) Crashes Hard"},"content":{"rendered":"

\"SMAK_chart.gif\"Yesterday Smack Sportswear (OTC:SMAK<\/a>) dropped hard in the wake of a pump campaign run primarily by Penny Stock Parlay. The pumpers were silent as the stock closed 36% down. <\/p>\n

The pumping of SMAK<\/a> started on December 12 with promoters Penny Stock Parlay comparing the company to large NASDAQ player True Religion Apparel (NASDAQ:TRGL). SMAK<\/a> is sadly a company that is not even a far cry from such businesses.<\/p>\n

The company recently announced the purchase of Team Sports Superstore (TSS). Before this deal SMAK<\/a> had zero cash and never generated a dime of revenue since its inception as Reshoot Production Company in 2007. The so-called purchase of TSS was really a reverse merger in which TSS acquired 78% of SMAK<\/a> stock as payment for the deal and Mr. Sigler, the major shareholder of TSS became CEO, President and Director in SMAK<\/a>.<\/p>\n

The company was kind enough to provide some sort of update on what the merger brought to SMAK<\/a>. The picture painted by Team Sports Superstore financials is not a pretty one. Here is an excerpt from the consolidated data for TSS, found under item 99.1:<\/p>\n

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