TELSON RESOURCES INC (OTCMKTS:SOHFD) has been in oblivion and hardly recording any trading volume. The company last filed its report with SEC on January 31, 2013, and since then the company has failed to update on its financial performance.
As per the last report that was published on January 31, 2013, TELSON reported general and administrative expenses of $244,195 for the period ended November 30, 2012, consistent with the same period in 2012. After the exclusion of share-based payments, foreign exchange and amortization, total expenses declined by nearly $124,000 in 2013 over the comparable period in 2012.
The professional expenses include audit, legal and accounting fees. Legal fees declined moderately, while accounting and audit fees came down significantly over the previous period. In the comparable period in 2012, accounting and audit fees in were higher mainly due to TELSON’s switch over to financial reporting firm under IFRS, along with an overall jump in the volume of transactions.
Business promotion costs include corporate communication services, registration fees for trade shows, fees paid for advertising and production and development of promotional materials. TELSON reported that business promotion was high in the comparable period in 2012 as a result of attendance at numerous trade shows and private promotional meetings. The company stated that it curtained business promotion plans due to limited cash resources.
Travel expenses cover the costs of accommodation, meals, vehicles and airfares for numerous business trips linked to securing financing and meetings, and attendance at a trade event. Travel expenses declined by nearly $23,000 as TELSON recorded fewer trips to financial centres and trade shows. The communications costs includes the expenses of company’s news releases, mobile phones, site design and maintenance, office telephones, fax, web hosting and internet access services. These costs are mostly in line with the previous year.
TELSON RESOURCES INC (OTCMKTS:SOHFD) ended the last trading session with a huge loss of 46.08% but the quantity of the shares exchanged were limited to 100 only for the day. The stock is one of the most illiquid stocks there are and it is highly possible that the volume pattern will remain the same in the coming days too unless some news make the traders or investors excited about the company. The stock is now trading 65% lower from the life time high of $0.0826 and may now test the lows around $0.0020 levels.