Shares in mini Groupon Inc. (GRPN), Simplepons Inc. (QPON), can now be found without the “E” at the end of the ticker after filing their 10-Q yesterday. Although there are revenues, the negative gross profit proves that the targeted deal via apps Company has some work to do before getting that turned around before tackling operating expenses. Yet since QPON stock is relatively new, less than a month on the market, and priced under where many shares were issued, savvy traders will want to keep a close eye on how Asher is now involved before thinking of a possible “buy one, get one free” deal in the wake of the GRPN stock bounce earlier this month.
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QPON Stock Chart
Market Cap: 7.83M
Close: 0.09, up 0.03 (50.00%)
Dollar Volume: $945
Average Trade Size: 3,500
Issued and Outstanding: 87,470,870
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SimplePons reported yesterday net revenue of $20,832 and $39,461 for the three and nine months ended September 30, 2012, respectively. Cost of goods sold dring the respective periods were $28,949 and $44,209 creating a Gross Loss of -$8,117 and -$4,748, respectively. Not bad, but far from great considering the operating loss incurred during the nine month period was -$2,227,851.
What might be appealing to some traders willing to risk it on QPON stock is that nearly 9 million shares were issued during the nine month period ranging from $0.10 to $0.50 per shares. Looking at that and you think “Wow!” But hold on to your friggin coupons. On October 26, 2012, the Company entered into a Securities Purchase Agreement with Asher Enterprises, Inc. pursuant to which SimplePons sold Asher a $63,000 principal amount convertible promissory note in a private transaction. Asher is an accredited investor (Yeah, and I am the Next American Idol) and the transaction was exempt from registration under the Securities Act in reliance on an exemption provided by Section 4(2) of that act.
Even though QPON stock might be fresh and clean, seeing Asher Enterprises involved is like saying someone who just stepped in a pile Great Dane feces smells ok. Tread lightly.
About QPON Stock
SimplePons Inc., operating as SimplePons™, is a subscription-based e-commerce smartphone application, and savings deal book that offers consumers goods and services at substantially discounted prices, as well as buy one get one free offers from local and national merchants. SimplePons’ subscribers gain access to coupons offering savings that can be used throughout the calendar year at participating merchants and businesses in specific geographic regions, which the Company refer to as “geo territories”.
Last 7 Trading Sessions:
Click here to view the SEC filings for QPON.
Bottom Line: New penny stocks like QPON are always sexy, but with Asher involved, its as sexy as watching your grandparents rekindle how your parents were created. Be careful with QPON stock headed forward. Focus, instead on DEEL which looks like it might have a go.
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