![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, April 12, 2010 8:18:53 AM
Stocklemon Reports on Smart-Tek Solutions, Inc. (OTCBB:STTK)
The avian bird flu has created a new kind of epidemic that is widespread throughout North America. But it’s not a medical epidemic — rather it is a financial epidemic. As Stocklemon focuses on Smart-Tek Solutions (STTK), we believe that investors should not give their wallet the flu, but rather flip this company a bird.
Apparent outstanding shares: 73,253,016 shares
Stock price today: 1.74
Market cap at today’s price: $130 million
Stock price two weeks ago: 30c
Stock price six weeks ago: 16c
Cash in Bank- Overdraft of $136,136 (yes that means negative)
What the Company Really Does
Smart-Tek Solutions Inc. purports to be a provider of security services and systems in the Vancouver area. Its website shows many lovely photos of the glass-enclosed high-rises that grace the Vancouver skyline, where it claims to be “a major provider of goods and services in the security technology” sector.
Yet, its most recently filed quarterly report shows gross revenues of just $756,811. Its balance sheet tells the tale of a company with many problems. The company currently has only $800k in assets and $1.66 million in liabilities including a Bank Overdraft of $136,136. Needless to say they have a going concern from their auditor.
Now all of a sudden, one brilliant day last November, the company hatched the idea of going into the avian flu business. Not just the regular old ho-hum avian flu business, mind you, but the avian flu business in China !
Never before have we heard of this business from the company. Neither did they spend ONE DOLLAR on research and development. Now a company with a $136,000 bank overdraft is going to put an RFID tag on every chicken in China.
This should come as no surprise — before the company was called Smart-Tek, it was called Royce Biomedical, Inc. (OTCBB:RYBO) who used spam to promote selling drug diagnostic kits in China (needless to say nothing came of that claim either.)
FEATURED North Bay Resources Announces Mt. Vernon Gold Mine Startup, Sierra County, California • Aug 5, 2024 9:00 AM
Fifty 1 Labs, Inc. and All-In-Extracts Announce Joint Venture to Develop and Release New Testosterone Boosting Supplement • BLEG • Aug 5, 2024 8:30 AM
Kona Gold Beverages, Inc. Announces Strategic Initiatives and Corporate Direction Changes • KGKG • Aug 2, 2024 2:00 PM
POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • POET • Aug 1, 2024 9:28 AM
Management Discusses Financial Filings of Global Arena Holding Inc., for 10-K 2023 and 10-Q, 1st Quarter 2024 • GAHC • Aug 1, 2024 9:14 AM
VAYK Announces LOI to Acquire $1 Million Home Service Company to Support Airbnb Business • VAYK • Aug 1, 2024 9:00 AM