Talk about ugly. TENP has been a disaster for day traders, hoping to flip out for a buck, and would-be-investors, alike. The Kool-aid drinkers are prepared to swallow that this company is still worth $7 million (dwindled down from $14 million a week ago), in spite of reporting a grand total of 3,536 bucks in the bank and 50 grand worth of unspecified deposits. The company reports to have exclusive rights to market a line of weight-loss products in the United States, by no means a unique space and certainly one wrought with competition. It's going to need to sell a lot of supplements before it can justify its current market cap, never mind loftier ones being hyped by the usual touts. We think the share price is headed in the proper direction and will pick up speed towards zero as investors come to their senses in conjunction with continued dilution and dumping.
Click here to open the compilation of trading summaries (updated May 30, 2013) gleaned from The Nightly. On all but one day, at least 80% of the buyers planning to day trade the stock ended up in the red. So far, the results are even worse for those planning to hold the stock longer term.
Currently, the products seem to be only available in Canada. Social Geek claims to have done $500,000 in sales in its first quarter, really not too bad, if true. But the fact is that we have no idea what kind of net revenue, never mind profit, we can expect from those sales, nor can anybody predict a retention rate of those customers. Heck, it is too soon to know if consumers are even satisfied with the product line. But even assuming that all is hunky-dory with Proteina21 itself, TENP's deal with Social Geek Media certainly looks to devalue the stock even from its current already depressed levels. Expect it to go much lower and reach the sub-pennies in short order, as more and more stock is churned out.