Dragni Dragnev

Hipcricket Inc. (OTCBB:HIPP) Crashes Once More

by Dragni Dragnev January 24, 2014

A 10-Q filed on Jan. 9, 2014, which may have had something to do with the 10% recovery in that session. It covered the period ended Nov 30, 2013 and listed the following figures:

 

  • Cash and cash equivalents $4.8 million
  • Total current liabilities $8.5 million
  • Revenue $ 6.4 million
  • Cost of revenues $3.2 million
  • Net loss $5.2 million

 

All in all, revenues have dropped by about a million YoY, while the cost of revenues has increased. The fact that the company currently has nearly $5 million in cash can be taken as a positive sign, however investors are advised to also note that HIPP's net loss exceeds that amount with almost half a million.

On the same day the Company announced that its intention to present at the 16th Annual Needham Growth Conference in NY.

Both news helped push the ticker up significantly that day, but failed to take it much further after the session was over. HIPP's been on the decline since Jan. 14 and closed at $0.246 yesterday.

Another company that had it hard yesterday is MEDL Mobile Holdings Inc. (OTCMKTS:MEDL), who closed 14% down during the Thursday session.

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