The shares of WQN, Inc. (PINK:WQNI) shot up by more than 52% as the developer of a patented parental-contral mobile phone application announced that its RatedSafe(TM) anti-texting while driving app was now available for free on the company’s website. A two-day promotion worth $25 thousand also put its two cents.
Closing trade at $0.42 per share, WQNI gained a staggering 52.73% in value, easily registering its highest close since mid-December. The volume spike was even more impressive as a total of 332,516 shares changed hands yesterday hitting a new six-month record.
Yesterday, WQNI officially announced to have launched its proprietary RatedSafe(TM) mobile app – an advanced parental-control phone app which gives parents the opportunity to track their childrens’ texting communications. What is more, the new app is also known for disabling the mobile phone’s texting function while driving.
In addition to yesterday’s news, investors also got a brand-new promotion in support of WQNI. Evaluated at $25 thousand, the campaign is supposed to raise awareness about the stock over the course of two days. Now that the first day has gone by, we can conclude that the effort has definitely borne fruit. However, WQNI’s huge surge yesterday does not guarantee that a similar scenario will necessarily occur today.
WQNI recently reported a net loss of $635 thousand for the fiscal year ended Dec. 31, 2011. No revenues have been generated for the reporting period, either. Provided that WQNI gains popularity with its newly launched free RatedSafe(TM) app, it could stand a good chance of raising external capital in order to develop commercially viable alternatives.
