The second coming of KMA Global Solutions International Inc. (KMAG) from CEO, Jeffrey Duncan Reid, looks as if its almost ready to take your money. The penny stock of Trio Resources, Inc. (OTC: TRII) has made the first of many expected drops in price on Tuesday after trading activity began just a few weeks ago. The bid was 0.37 on TRII stock as of the end of trading on Tuesday and traders can expect to see a “0” added making it 0.037 in the near to not-so-distant future of the Canadian mining company.
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TRII Stock Quote
Market Cap: 152.14M
Last: 0.45 ▼ -0.185 (-29.13%)
Dollar Volume: $18,259
Issued and Outstanding: 338,100,000
14-Day Rel Strength: 53.88%
14-Day Stochastic: 90.00%
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Prior to KMAG stock was suspended by the SEC and permanently moved to the “Grey Sheets” in September (see here), Reid made a move by creating Trio Resources Inc. On December 14, 2012, Trio reversed into the shell of Allied Technologies Group, Inc. for 66.15% of the issued and outstanding shares of Common Stock at the time.
Immediately, the Certificate of Amendment of its Articles of Incorporation was filed with the Secretary of State of Nevada to change the name, increase its total authorized shares of Common Stock, from 75,000,000 to 400,000,000, and take the necessary steps to effect a 100-for-1 forward stock split of the issued and outstanding shares.
Now that TRIO resources is both issuing news and TRII stock is trading, Tuesday’s price adjustment is just the beginning of what traders can expect to see, especially with a series of secured convertible notes under multiple funding arrangements with various third-party investors totaling $1,181,212 outstanding. It’s no wonder the news of the Company’s initial shipment of 156 tons of mineralized material processed at United Commodity AG’s Yukon Refinery, which is expected to generate revenues of approximately $236,000, had a less than positive impact on TRII.
Focused on the Company’s Duncan Kerr Property in the Cobalt Mining Camp located in Northern Ontario, Canada, previously announced a 5 year Off-Take Agreement with United Commodity AG to process precious metals from Trio’s above-ground stockpiles of silver-containing mineralized material. News like this would have sent TRII stock into orbit had it not been for the connection to Duncan Reid and the fact that there are 338 million shares outstanding.
Located on the highest risk list available, TRII stock is officially on watch for trading activity to increase and should be traded cautiously based on the past performance and dilution KMAG stock traders experienced.
About TRII Stock
Trio Resources, Inc., through its wholly-owned subsidiary, TrioResources AG Inc., is a Canadian mining company which plans to focus on exploration, milling, and refining of precious metals located in historically prolific regions.
Last 5 Trading Sessions:
TRII can be only days away from becoming the highlighted ticker for penny stock alerts. While the news is great, the history behind TRII stock is tainted enough to make passing on this junior gold miner an easy decision to make for those lacking a high-risk appetite.
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