Investors in TTCM have been on an emotional rollercoaster the last few months. In March of this year the stock looked dead. It was trading very little volume and was at a measly .0003 a share. That all changed on April 2nd when the company released a press release announcing the issuance of its second patent with its KlickZie technology “touch-to-comm”. This patent uses crypto technology to help protect interactions with imagery on a smart phone, and helps detect tampering. This caught investors attention.
Investors were also excited about the addition of Aasim Saiged to the board of directors. Aasim has been an innovator in the smart phone world. He is known for his work on the Akyumen Hawk Smartphone which has a built-in HD projector.
On July 12th TTCM announced completion of their KlickZie protoype. Which saw the price take off in July but ended the month with a lot of selling pressure.
If we take a look at the chart we can TTCM found support at the 50 day moving average and has started to bounce nicely.
According to OTCmarkets the number of outstanding shares is 3.4 billion and the number of Authorized shares is 5.1 billion. That isn’t the best share structure for a penny stock.
According to their last unaudited 10Q report the company only has 33,291 cash on hand. The six months prior to June 30th the company issued just over 1.4 billion shares to retire 276,592 in derivative liabilities. That means shares were acquired at roughly .0002 a share. That could be something to watch out for if those parties decided to sell those shares it could hurt the share price. One nice thing to see is that the number of outstanding shares haven’t increased over the last two months.
TTCM still has 4 patents pending related to its KlickZie technology and seems to have plenty of catalyst coming up in the future. I wouldn’t be surprise to see this stock being promoted because of the 1.4 billion shares that were granted at .0002 a share. The question is will those with the newly acquired shares just relentlessly dump shares or will the share price be pushed higher.
Keep your eyes open for overly optimistic Twitter accounts pumping the stock claiming it will make you rich. Pay attention to the level 2 and watch support and resistance levels on the chart. This stock showed heavy support on the 50 day moving average.
Disclaimer: I do not own any shares of TTCM. This article is for entertainment purposes only. Make your own investment decisions. You can read our full disclosure here.