After an impressive gain over the past week, on Friday the stock price of INNOVATIVE PRODUCT OPPTYS (OTC:IPRU)
froze. IPRU closed the week at $0.40 per share, while its traded volume decreased. However, Innovative Product is not ready to move down. On the contrary, the company decided to ensure its market position.
The first step was made right on Friday, when IPRU reported that it has begun to design a new product for the $39 billion dollar back to school market. Then, yesterday the company made another effort to pump up its stock price. This time by promotions.
IPRU was promoted by Shazamstocks.com for the compensation of $5.000, with no third party involved. It means that Innovative Product has paid the campaign by itself and now it is waiting for the result.
However, there is a peculiar issue regarding the latest news release of IPRU. Looks like a pretty similar announcement on the company's new product was already published last month. At that time, the "must have" school item pushed up IPRU stock price successfully, though the up move was shortly broken.
Innovative Product Opportunities, Inc. is a product development firm organized to meet the needs of new and emerging product ideas. As of March 31 this year the company's last 10-Q report shows:
* $13.817 current assets;
* $60.970 current liabilities;
* $47.153 stockholders' deficit;
* $159.153 accumulated deficit during development stage.
Considering these numbers, as well as the other losses on the company's balance sheet, it is obvious that Innovative Product functions under a going concern. Moreover, the company doesn't have a source of revenue to cover its liabilities, nor to implement its business plan. It turns out that presently IPRU relies only on its new product to raise some capital, though it is still "at an exciting stage of design process".