TANARIS POWER HLDGS INC (OTCMKTS:TPHX) disclosed that it obtained the rights to a product assessment deal with United Airlines. The deal was originally finalized by ‘Tanaris Systems’, which is a functional firm of Enterprise Asset Management, Inc. However, the deal has been changed with the assessment deal fully given to Tanaris Power Inc.
The significance
Bruce Farmer who is the CEO of Tanaris Power said that the opportunity to associate with United Airlines is a great honor. It serves the maximum number of destinations in the world. Everyone in the team is thrilled and looking forward to enter into a dynamic and strong relationship in the coming period. Tanaris is a reputed developer of Smart Lithium-Ion batteries and offers the power solution to various industries.
The pumps
Tanaris, much more like other OTC stocks is a target of paid pumps. The stock started weak at the start of last week but managed to post gains of more than 28% on Friday’s trading session. It gained 28.70% to close the trading session at $0.347. The up move came at a share volume of 153,095 compared to average share volume of 281,073.
The performance
FreeSuperStocks have designed the sponsored promotions to boost the stock price of Tanaris Power. However, it doesn’t seem to have any significant impact on the stock price. It is offering just the volatility to the share price. As per the last financial report, Tanaris Power recorded cash of just $2,000. The net loss came at $13,000 and revenue was $0. The company posted total current liabilities of $72,000 while total current assets stood at $52,000. The existing management team and news of reverse merger is doing no good to the share price.
The news
Last week, Tanaris Power started the production work of its new product line, Osprey vehicle batteries that will have 40% more high density compared to existing models. They functions on the Lithium-Ion cell technology.
