If you come across a time machine, set the date to May 1, 2012 and get shares in GTSO Resources: Green Technology Solutions (OTC:GTSO). From May 1st to May 9th, GTSO stock price shot from $1.15 to $6.00, a 421.74% gain. If you missed selling on the 9th, you can get $6.00 on the 11th. Since then, shares in the rare earth minerals and precious metals explorer have toppled like a drunken Englishman at the Cooper’s Hill Cheese-Rolling and Wake.
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GTSO Stock Chart
Close: 0.78, up 0.0413 (5.59%)
Volume: 180,705
High: 0.85
Trades: 89
Average Trade Size: 2,030
Authorized: 75,000,000
Issued and Outstanding: 31,202,694
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With just $2,047 in cash as of July 31, the Company’s mining subsidiary, GTSO Resources, announced today that its joint venture with Diamond V Associates has taken a major step forward toward accomplishing its mining objectives in Western Africa. Hopefully its the same size of a step forward in near-term revenues as their share issuance since December 31, 2011.
With only 146,594 at the end of 2011, 31,056,100 shares of GTSO stock have been issued in note conversions, all in January. On January 9, 2012, the holder of the $661,683 Convertible Note Payable elected to convert the entire principal in the amount of $661,683 into 22,056,100 shares of GTSO stock. Cost basis: $0.028. Subsequently, on January 12, 2012, the holder of the $517,673 Convertible Note Payable assigned principal in the amount of $270,000 to six entities ($45,000 each). The new holders of the $517,673 Convertible Note Payable elected to convert principal in the amount of $270,000 into 9,000,000 shares of common stock. Cost Basis: $0.03.
The recent news, interviewing qualified geologists to manage the excavation of gold, tungsten and other precious minerals in Western Ghana, is likely to bring in some buying power, but is still a long-reach from pulling out the first nugget.
About GTSO Stock
Green Technology Solutions, Inc., as per their 10-K filed in April, 2012, is in the business of identifying and acquiring rights in early stage, breakthrough green technologies, with the plan to develop these technologies into marketable products.
On June 12, 2010, five purchasers acquired control, 16,503,817 pre-split shares, from Burisma Holdings Limited for $270,000, 0.016 per share.
Bottom Line: GTSO is one of the penny stocks that is in decline and has yet to establish a true bottom. Be patient and wait for GTSO stock price to descend to the 20 cent level before adding it to your list to watch.
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