Violeta Slavtchevska

San West, Inc. (OTC:SNWT) Promoted Again, or Anticipating the Next PR?

by Violeta Slavtchevska June 21, 2011
Yesterday the share price of San West, Inc. (OTC:SNWT) stock jumped high above all resistances for the past several weeks, forming a suspicious trading pattern. No news has come out since the end of May, thus either the expectation of news or a secret promotion could be behind the jump. 7SNWT.png

SWNWT closed the market yesterday at $0.0088 with a 10% increase from the previous day. Trading volume reached 14.84 million shares and the session was among the three sessions with the heaviest trading volumes in the past six months. This last thing by itself, in that case combined with the typical for a promotion spike of the share price and the volume shortly after market open, could be a strong argument in support of some posts on iHub message board that imply the stock has been again covered by some stock promoters.

According to our database, the last promotion for SNWT took place exactly in the days with the heaviest trading activity in the end of March this year. We have not received any promo mails on SNWT since then, and it is also possible that traders expect some new PRs from the company which has been silent for a while.San_West.jpg

Latest news came at the end of May. Then, the company filed the quarter report for the three months ended March 2011. It did not show a substantial change in the financial position of the company in comparison with the same period of last year: working capital deficit still goes beyond $1 million. There is a change in the operational performance, however.

The sales have slightly increased, while the total expenses have decreased from $924,000 to $249,000, that decrease being due to the recognition of $642,000 in non-cash stock compensation in 2010 compared to only $73,000 of stock compensation during 2011. Yet, even excluding these factors, the net loss was less than half of that for the period last year.

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