DTRO share price closed the market yesterday exactly at its 50-day moving average $0.002. The total increase from the previous close was 11.11%, though much higher during the session, and the stock recorded a trading volume of 170 million shares, the highest ever in the trading history of the stock. Those were satisfactory results of the stock promotion compensated with $25,000 in cash, paid by a non-controlling third party shareholders.
While this could be an investor that is not satisfied with the shares’ performance so far and is hoping to get his money back, the company attempted to provide some corporate news as well. Deltron was supposed to be featured in a live interview yesterday evening to discuss its recently acquired new business, namely its Blu Vu division.
Deltron has been a company with no operations until May this year, when it acquired Blu Vu Deep Oil & Gas Exploration, Inc., which in turn had 100% of the outstanding stock of Elasco, Inc., whose principal business is to make and sell products like skateboards, roller skates and industrial wheels. The financial results presented subsequently are those of Elasco, but they only show that its business is not profitable.
After that acquisition Deltron intends to develop a proprietary rebreather technology, but it looks like so far it only has an agreement with another company to receive the rights on such a technology in exchange for a fee on each potentially produced unit. The new products should be produced by Elasco, but the agreement is not closed yet. Final closing should be announced by the end of the month.
Along with the insufficient revenues, Deltron has a very week cash position and is currently financing its activities through convertible debt instruments, which means that dilution risks should be very high if the company actually plans to start commercial production.
