Insight Management Corporation (OTC:ISIM) continues to hold the gains for the second day in a row and trades under increased volume.
The company remains silent on the news front and the move occurred on plain technical lineup and traders speculate the price could move into $0.002 territory and above. The previous price action puts up important resistance points at $0.0025 and a far one at $0.005, while the 50 day average works as support.
Market for ISIM shares remains overly thin even with the remarkable upswing in price and volume. The company holds little fundamental value as their recently filed reports show, thus the interest from traders stays low as well.
Unaudited results for the quarter ended September 30, 2010, show only two thousand dollars in assets and nearly $860 thousand in liabilities. The development stage business doesn’t have any revenues and constant losses are covered by selling short-term notes.[BANNER]
The report also includes financial dealings related to Simply Constructed Inc., which the company acquired in September this year. The green pre-fabricated construction company was acquired for $5 million paid with a convertible promissory note. The amount was later recorded as an impairment loss on the intangible assets acquired.
The latest quarterly report states ISIM plans to start selling Simply Constructed homes and Nabisolar products by the first quarter of 2011, if they manage to raise additional capital for the build-up.
