to reach over 1 million shares. Yesterday, the price climb continued, but on a bit lower volume.At this point, no particular reason for the high trade can be found, as Paid has not released any news on its activities recently. The latest announcement dates back to Sep. 14, when the company said that it is expanding its celebrity services and is expecting higher revenues for this year. However, PAYD stock didn’t move up.
Paid is engaged in providing brand-related services to businesses and celebrity clients with brand management and marketing, product merchandising, Website design, development and hosting, as well as authentication services for the entertainment, sports and collectible industries.[BANNER]
The quarterly results show that revenue and gross profit of Paid have increased, but also its operating loss. The company has more assets than liabilities on its balance sheet and its stockholders’ equity got higher.
Though the cash and cash equivalents of over $2 million and the increase in the working capital, the independent registered public accounting firm of Paid “has issued a going concern opinion on the Company’s financial statements for the year ended December 31, 2009”, which means only one thing: more cash will have to come in to fund the operations over the next twelve months.
The market shares currently Paid’s optimism about its financials, but the future results are up to be seen.
