On Friday, HEME stock jumped up already before market open and entered the session high above the previous close. The total gain for the smartest day traders was at least 16.67%, as measured by the new closing price of $0.21. The reason for the 1.62 million share volume was also duly disclosed.
A stock promoting company has received $10,000 to market the shares and expects to receive another $2,500, whereby that total budget might in the future be shared with another “3rd party advertising services” company. The first stock promotion for HEME this year was made at the beginning of the month and was supported by the constantly coming out press releases by the company.
That explains the sudden high trading activity, but one glance at the company’s latest quarter report makes the attempts to gain new investors through some innovative medical software technology sound more than desperate. In its 10-Q, HEME states that it has currently no operations, no established sources of revenues and not even any assets that could generate cash in the future. At the end of last month, HEME had to appoint a new CEO after the previous one resigned, and the company had to find a new CFO as well.
Hopefully, the new members of the management will have more luck with the ten years old development stage company, whose activities throughout the years resulted only in an over half a million dollar accumulated loss. At the end of this June, HEME’s software developments has still “not reached technological feasibility”, but at least the next equity raising events have been planned.
HEME will need $1,000,000 for its undefined business plan for the next twelve months. Along with the campaign to popularize HEME’s shares, the other recent steps in that direction have been the improvement of the stock’s liquidity through a 30-for-1 stock split and the increase in the authorized capital from 25,000,000 to 750,000,000 shares of common stock, both conducted in May this year.
