Year End … CTSO, one that I got out of
I had a moment of madness in 2014 when I took tiny positions in three-penny stocks. I don’t know how I first got interested in CTSO, but they were growing revenue rapidly. However they were still losing money. Investing in companies which are losing money went against all my internal rules and principles.
I bought in to CTSO in June at between 23.8 cents and 24.5 cents. I came to my senses in August, when it became clear that while there was theoretical reason to think their device might be beneficial, there was no evidence it was, and the few studies that had been run were equivocal at best. As anyone who knows anything about medicine knows, citing a few case studies is meaningless. You need a controlled study. There weren’t any that showed positive results. All their stories of “success” refer to success in getting distributors, or “opinion setters”. It started to seem like it was very questionable long term.
I sold out at 25.2 cents. Since then they announced Sept quarter results. Revenues continued up. Losses were even greater than the year before. In fact they were considerably greater than total revenue, making profits any time soon very unlikely. Since then they did a 1-for-25 reverse split so they could get listed. It doesn’t help the company, but probably will help the insiders sell stock. 1-for-25 made my 25.2 cents worth $6.30. It shot up to $10 on the basis of the reverse split. Today it blew off steam as high as $12.87 and then dropped as low as $9.32 and closed at $10.40, down about 50 cents, or 5%. If some of you were still in it, I hope you got out during the blow-off above $12. It may go on up, but I have no regrets about selling out. This is DEFINITELY not my kind of stock. As I said, a moment of madness.