What has a 96% “Strong Sell” rating on BarChart.com, just increased their authorized shares from 1.5 billion to 3 billion, just set a new 52 week low, and is about to provide movies, shows, sports and news via Android Play Store and the Apple brand iTunes App Store? If you answered Swordfish Financial Inc. (SWRF) then you’re a penny stock trader who knows how to spot blood in the water. Trading thinner than plankton despite their recent acquisition of iPoint Television, LLC, can SWRF stock jump like a swordfish that’s just been hooked and fight it’s way back to above a penny on their recent corporate update?
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SWRF Stock Quote
Market Cap: 1.32M
Last: 0.0019 ▼ -0.0001 (-5.00%)
Volume: 583,000
Open: 0.0017
High: 0.0019
Low: 0.0017
Authorized: 3,000,000,000
Issued and Outstanding: 693,245,251
14-Day Rel Strength: 35.90%
1st Resistance Point: 0.002
1st Support Level: 0.0018
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Swordfish Financial, until June, 2009, used to operate as an outdoor recreation products company which designed and marketed primarily outdoor recreation products for the sport fishing and sport hunting markets throughout the United States and Canada. That didn’t workout so well and they moved on to concentrating on diversified financial asset recovery for high net worth individuals and companies with orphaned or dormant assets held in financial institutions around the world. That didn’t work out so well either.
So, in February, 2013, Swordfish decided to focus their attention on getting into the Internet TV, delivering high quality, HD, SD and creatively produced TV and Radio networks with programming at a dramatically reduced price to the network creators, TV and movie producers and of course subscribers. They did this by signing a Letter of Intent to acquire iPoint Television, LLC for over 90% of the outstanding ownership interests of iPoint.
Since they have now closed the deal, news came out last night highlighting the intentions on how to capture their portion of the 2014 projected 101.7 million subscribers of Internet Protocol television around the world. All of next month, iPoint’s “a la’ carte” system is scheduled to start receiving new content it has presently acquired, consisting of movies, shows, sports and news. One of the more interesting production series they have planned for a March launch is a 30 minute Stand-up comic show featuring the latest comics which is to be hosted by Ronn Moore, aka “White Chocolate.”
It all sounds good, yet this story has been known ow for almost an entire year and SWRF stock has yet to respond to the change of direction. If SWRF was to be given a “Nielsen Rating” for it’s performance over the last 6 months, it would be cancelled from every channel that aired it, never to be brought back for a cameo.
Since the OTC markets are more forgiving than TV viewers, seeing SWRF set a new 52 week low on Tuesday rang alarm bells on a number of trader’s screens. They just approved to increase their authorized shares for issuance from 1,500,000,000 to 3,000,000,000 which is never a good thing in the eyes of shareholders.
Since optimism on bottom bouncers tends to overrule pessimism, SWRF, as low as it is, could actually work out as a good play while their IPTV content starts hitting the mainstream. If the global IPTV market was approximately $17.5 billion in 2010 and is forecast to grow to approximately $46 billion this year, maybe, just maybe, SWRF can get off the bottom of the OTC ocean and start swimming like a Swordfish should.
About SWRF Stock
Swordfish Financial Inc. is a development stage company concentrating on pursuing acquisitions of Internet media companies which provide services to home entertainment and cable business.
Click here to view the SEC filings for SWRF.
Click here to view the website for Swordfish Financial.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 01/29/14 | 0.0017 | 0.0019 | 0.0017 | 0.0019 | -0.0001 | -5.00% | 583,000 |
| 01/28/14 | 0.0014 | 0.0020 | 0.0014 | 0.0020 | +0.0005 | +33.33% | 4,410,500 |
| 01/27/14 | 0.0016 | 0.0017 | 0.0014 | 0.0015 | -0.0003 | -16.67% | 5,834,300 |
| 01/24/14 | 0.0020 | 0.0022 | 0.0016 | 0.0018 | -0.0005 | -21.74% | 6,743,300 |
| 01/23/14 | 0.0025 | 0.0030 | 0.0019 | 0.0023 | -0.0002 | -8.00% | 3,629,400 |
Bottom Line:
Bottom bouncing penny stocks are a risky play, especially when there are now twice as many shares available to dilute the PPS even further. However, seeing as how there was 764,962,300 shares issued and outstanding on May 2, 2013 and just 693,245,251 on November 8, 2013, maybe, just maybe, SWRF is gonna turn into something worth tuning into.
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