Shares of TSR, Inc. Soar while Company Has ATM Offering

TSR, Inc. offices in Hauppauge, NY
TSR, Inc. offices in Hauppauge, NY
TSRI: Relative Strength Index vs. Market Price per Share
TSRI: Relative Strength Index vs. Market Price per Share

Cash on Tap

As of Nov. 30, 2021, TSR had $6,267,810 in cash and equivalents, a decrease of $1,102,836, or 15%, from May 31, 2021. The company has a $2,000,000 revolving credit facility against which it had borrowed $44,000 as of Nov. 30, 2021. But with the recent run-up in its stock price, TSR is more likely to raise capital by issuing and selling shares in a $4,167,000 at-the-market (ATM) offering the SEC declared effective in Oct. 2021.

Litigation Risks

TSR has arranged its financing over the past three years against a backdrop of intense litigation. In Jul. 2018, the company’s founder, Joseph Hughes, and his wife, Winifred Hughes, agreed to sell their 42% controlling interest in TSR to Zeff Capital, L.P., QAR Industries, Inc., and Fintech Consulting, LLC. The sale touched off a series of disputes.

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