soared 40% at traded volume of 5 million shares.The up move started as soon as Kurrant Mobile reported its new diversified catalogue of books for spring and summer 2011. According to Mr. Pierre Turgeon, CEO of KRMC-Cogito, the catalogues “demonstrate our unique capacity as a multilingual publishing house to distribute authors internationally in both print and digital form”.
Apparently, the optimistic announcement fueled up KRMC stock price and the massive trade was immediately on. Though, it is yet not certain how far the up move will go.
Kurrant Mobile Catering is an international publishing company with offices based in Montreal, New York and Paris. Last summer, the company used to trade much higher, though since then the stock price has moved down significantly.
Last month, the Board of Directors of Kurrant Mobile authorized the issuance of an aggregate 10,000,000 shares of restricted common stock to Pierre Turgeon, President and CEO of KRMC, based upon recognition of the outstanding services, leadership and innovative business operational strategies provided by Turgeon. As a result, there were approximately 186,154,254 shares of common stock issued and outstanding.[BANNER]
The company’s 10-Q report shows that as of end-November 2010 liabilities of Kurrant Mobile have been a bit higher than its total assets, however the company’s accumulated deficit exceeded $19 million, excluding the net loss that has been constantly increasing.
Considering these facts, along with the working capital deficit, KRMC will need to raise proceeds from the issuance of debt or equity and increase its operating revenues. However, until the company finds additional funds to cover the losses, its continuation will remain questionable.
