Shares in Transax International Ltd. (TNSX) are “Psychotically” volatile as the pennystockalerts issuer has, once again, managed to “Grand Canyon” the open. Closing Monday at 0.0015, TNSX stock opened today at 0.003 before climbing, prior to 9:31:35Am, to 0.025, a 733% gain from the open, a 1,566.67% gain from yesterday’s close. The psycho has now hit more consecutive gaps this year than Joe DiMaggio did in 1941 when he had his 56-game hitting streak. Seriously, there are less gaps walking the back alleys off of Ventura Blvd. than what traders have been getting this summer from the once king of email alerts.
To say that TNSX stock is a #2Flusher is an understatement and the tale of the tape below will explain what we mean by this.
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Transax hasn’t issued any news in 2012 and has amended their 10-K and both 10-Q’s filed for this year due to the inability to rely on the financial data previously provided. Much of that was due in part to their purchase of BT Brunei and its shareholder, BT Hong Kong, on December 30, 2011. Under the Share Exchange Agreement, Transax acquired 100% of the issued and outstanding shares of BT Brunei from its sole shareholder, BT Hong Kong.
Now, the Company sources toys to distributors, trading companies, and wholesalers primarily located in mainland China, Hong Kong, Europe, South America, and Asia. The end customers are typically children, ranging from infants to teenagers, in these countries and regions.
At least this time, we are getting to see a Company with better than decent top-line numbers. Revenues for Q2 2012 came in at $6.0 million, an increase of $1.9 million over the same period in 2011, primarily due to $1.4 million increase of sales revenues from BT Brunei coupled with a $0.5 million increase from BT Shantou. For the 6 months ended June 30, 2012, revenues were $10.7 million, an increase of $6.4 million over the same period in 2011, primarily due to a $5.9 million increase from BT Brunei coupled with an increase of $0.5 million from BT Shantou.
With 96,078,960 shares issued and outstanding as of August 13, 2012, after this psychotic trading session settles down and the Darth Trader has banked coin, maybe there is a chance that TNSX could be a half decent penny stock once it wipes the skid marks off of itself.
About TNSX Stock
Transax International Limited, after the acquisition of BT Brunei, is in the business of toys sourcing, distribution and contractual manufacturing targeting international and domestic distributors and customers in the toys industry. The Company’s main business focus is to function as a “one stop shop” for the sourcing, distribution and specialty manufacturing of toys and related products.
Click here to view the SEC filings for TNSX.
Bottom Line: TNSX is such a bad penny stock after all. Expectations of it’s long term performance are like a cup of urine thrown out the front window of a moving car while the back windows are open. Translation: It’s gonna take a long time for that memory to evacuate and for the risk of riding in the back seat to ever really be erased. Traders of TNSX stock who didn’t know the gap rule may want to call Pristine Solutions (PRTN) and get some Tropine 3.
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