Graphon Corporation (OTC:GOJO) gained 60% yesterday. By the time the session came to an end, GOJO stock closed at a 52-week high of $0.16 per share. The traded volume was also impressive as more than 885 thousand shares changed hands, which is the third highest score since Mar. 30, 2010, as well as 20 times higher than the average volume of 46K.
Since no promotional activities in favour of GOJO have taken place for quite a while now, the abrupt surge of its stock might correlate with the most recent press release issued by the company. Two days ago, GOJO introduced its GO-Global Cloud. The latter has been described as a special software platform meant to serve as a basis for the creation of private cloud environments. According to company representatives, the platform is designed to work with different operating systems such as Windows and Linux. [BANNER]
GraphOn Corporation specializes in offering business connectivity software to its customers. Headquartered in Santa Cruz, CA, the company was founded in 1996. In addition, GOJO claims to have entered into strategic partnerships with a myriad of established enterprises such as Alcatel, Ericsson, etc.
GOJO is a regular SEC filer occupying the OTCQB stock market tier. According to the Q3 report covering the period ended Sep. 30, 2010, the company has:
- $2.1 million in cash;
- working capital surplus of $400K;
- nine-month revenue in excess of $5.7 million
- nine-month net loss of $620 thousand as compared to $740K incurred in 2009.
In a nutshell, GOJO seems to have the capacity to grow without relying on artificial pumping activities. So far, it has been diligent in carrying out a fairly transparent policy toward stockholders. Its new software platform might attract new GOJO supporters, provided that it meets with success among its both current and future customers.
