Much money on the line for Axia Group Inc.(PINK:AGIJ
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) these days. And the results come, naturally. There is, however, the question of one other type of results, which are still due. An important issue not to go overlooked.
So, in terms of money, the number is 180k. This was the amount paid by a third party for promotions for Axia Group. The result - 44 million shares exchanging hands, the session closing at $0.005 per share. As mentioned -25% increase in the stock price for the session. Shorters took their piece of the action, as well. Short-selling activity amounts to 8.5 million yesterday. Now, it is fair to mention that there was a press release that came out yesterday, as well. It is however, doubtful that the latter is the main catalyst for the trading frenzy on Wednesday.
In the mean time, financial results are still due, at least the ones for 2011. At the moment, parties interesting in Axia as an investment opportunity have only a 10-Q for the last quarter of 2010 to look at. Among other figures, it includes the following:
- $7.6k in cash;
- $56k in current assets;
- $177k in current liabilities;
- $25 million deficit;
- $264k in sales;
- $36k in net loss;
Now, not the worst balance sheet out there, but nevertheless, not an inspiring one. Let alone, these figures reflect a period, when the stock price was still in penny levels, way higher than the current one. In this aspect, coupled with the 180k paid for promotions, it is high caution that should be applied, when considering Axia as an investment opportunity.