Eusebio H. Tanco is the principal controlling stockholder of STI Education Systems Holdings, Inc. (STI). He directly owns around 12.7% of STI’s outstanding common shares as of June 30, 2020.
STI has a fiscal year ending on March 31 of every year. For the fiscal year 2019 to 2020 STI has not yet been able to file its 17-A report or the annual report.
According to STI the preparation of the Financial Statements (“FS”), and timely completion of the statutory audit of the Company’s Consolidated and Parent Company FS have been greatly affected by the travel and quarantine restrictions imposed by the IATF. The STI network of schools are located nationwide and most of these locations are placed under quarantine, suspension of business operations, and other safety and quarantine protocols imposed by both local and national government authorities and the Company in response to COVID 19 pandemic.
Prior to the implementation of the quarantines, STI was able to file its 3Q results for the fiscal year 2019 to 2020. It said that net income for the period covered was 10% higher than that of the same period in the preceding year.
The business environment has massively changed since then and STI’s share dived down.
On a two-day (September 10 to 11, 2020) period, Venture Securities, Inc. facilitated a buy transaction of 65,290,000 shares at an average cost of 0.325 a share. Venture Securities, Inc. is chaired by Eusebio H. Tanco who is also the principal stockholder of STI.
Eusebio H. Tanco is consummate deal maker. This is interesting.
Disclaimer: This is an independent analysis for discussion purposes with the aim of giving stock traders and investors an independent perspective. Accuretti Systems Inc. in the course of day to day trading may have own, or is considering buying or disposing, the shares of the companies mentioned in this commentary.