Despite announcing another quarter with revenue growth, MacroSolve, Inc. (PINK:MCVE
, MCVE message board
) closed in the red yesterday.
At the end of the session, one share of MCVE was worth $0.097, an 11.82% decrease. The volume of 1.9 million shares is a 52-week high for MCVE. The performance landed MCVE a place in some unpaid alerts.
The 10-Q was the obvious reason for the unseen trading volume. MCVE reported $593 thousand net sales, which is indeed a significant increase, and the fact that it came through software products and licensing is also encouraging. However, the numbers were not all good.
MCVE recorded loss from operations and net loss again, although both numbers are a bit lower than the respective amounts for the previous quarter. There has also been some dilution, but it is not in the alarming proportions common for Pink tier companies.
In the press release issued about the report, MCVE CEO Steve Signoff said the numbers don't yet reflect the previously announced agreements with Donald Trump Jr. and the Richards Group.
While there are some positive developments shown in the report, the market reaction would suggest traders will require a much better performance from MCVE before they feel comfortable paying a higher price for MCVE shares. On the other hand, the alerts could get some more interest in MCVE today, but since they are not paid they are less likely to have a significant effect.