During Friday’s trading session, while all eyes were on the second bounce of TagLikeMe Corp. (TAGG) we tweeted a breakout on Sport Endurance Inc. (SENZ). (see here) Granted the penny stock never busted out subsequent to our tweet, but it raised enough curiosity to go digging to figure out what was pushing SENZstock upwards. What we found is a health-wellness / beverage start up company that has failed to, thus far, generate over $7.4 million in sales of its revolutionary Liquid Gel Cap products as promised in August, 2010, and no where even remotely close to surpassing the projected $38.7 million in revenues by 2013.
Is a reverse merger in the near future for SENZ stock?
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SENZ Stock Chart
Market Cap: 836.78K
Friday Close: 0.0139, up 0.0064 (85.33%)
Dollar Volume: $26,875
High: 0.016 (New 52 Week High)
Average Trade Size: 19,546
Issued and Outstanding: 60,200,000
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The dilution on Sport Endurance Inc. is long gone, nearly two years since a botched promo when SENZ stock was trading above the $1 level. Still current on their SEC filings, the shares outstanding have not changed since August 31, 2009 other than some preferred shares that were converted in 2011: 1 million preferred shares converted at a ratio of 3-for-1 to common shares.
The Company had $110 cash and equivalents as of May 31, 2012, $0 sales since January 3, 2001, but current filings. Chances of a reverse merger upcoming are much more likely to occur than for any energy-boosting products coming off any assembly line or being reason for any cash deposits into the corporate account.
About SENZ Stock
Sport Endurance, Inc. intends to manufacture and distribute a line of sports energy drinks. Presently marketing for sale one Soft-Gel capsule (named Sport Endurance 8-hour Energy Soft-Gels), production and distribution of the Company’s intended line of energy drinks has not yet commenced.
Click here to view the SEC filings for SENZ.
Bottom Line: Friday’s “sputter” of volume on SENZ likely means this is one of the iHub penny stocks to watch. If and when the “Breakout Boards” show SENZ stock as the #1 board, chances are the subsequent trading session will be best for flipping. The share structure and lack of outside financing beyond BK Consulting makes this failed business venture ripe for a reverse merger.
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