phenomenal gain, adding approximately 43% to its price and trading over 1 million shares on the market.Something has certainly provoked the investors, though no particular reason for the high trade can be found.
The latest news by ANTs was released on Oct 25, reporting that the company has been named one of the two finalists in a group of 20 companies for the IBM CTO Innovation Award at the IBM Information On Demand Conference. Being recognized for the development of its skin for applications, traders’ interest in ANTs shares rose up and the stock got overbought. However, it stared to lose shorty.[BANNER]
After the conference news was published, no more announcements on ANTs have been released and no one knows about the company’s current activities. Though, its stock aims the top.
Historical records show that ANTs has been jumping up and down regularly and in May the stock price exceeded $3 per share. However, since then it has moved down significantly.
As already mentioned on hotstocked.com, the company’s revenues have decreased as compared to the previous period, while its operating loss remained high. Although total assets are a bit higher than the liabilities, stockholders’ equity has decreased by almost 50% and ANTS has a long-term debt to pay.
ANTs’ management team believes it has sufficient funds to operate until the fourth quarter of this year. However, they claim that “Should additional financing not be obtained, the Company will not be able to execute its business plan and the recoverability of its intangible assets may become impaired”.
As a result of the operating losses, the working capital deficit and the negative cash flows, there is a substantial doubt about ANTs Software’s ability to continue operation. The only thing left for the investors is to wait for the company’s shareholder meeting on Nov 19, when more details about ANTs should be revealed.
