NavStar Technologies, Inc. (PINK:NVSR) is not in its best shape these days. Just when the stock gets the up move, it suddenly falls
back down unreasonably. Though, yesterday it was up again.
At the end of the day, NVSR stock price increased by 17.86% and traded volume totaled 92.5 thousand shares.
The most reasonable explanation on the gain must be the latest press release by NVSR. On March 13, the company announced technical details on its product focused on the Vehicle Tracking market segment. According to the announcement, Vehicle tracking is scheduled to launch mid-year 2012 as a main focus of NavStar.
Apparently, the news was motivating enough to break up the previous days losses for NVSR, though the company decided to additionally secure the current price jump. Determined to do so, NavStar used its well-known strategy for pumping up the stock price. Namely, promotions.
NVSR got promoted yesterday for a compensation of $43,500. The promoter, eStocksDaily Team, placed the stock on the move for today and now it’s up to investors.[BANNER]
NavStar specializes in the production and commercialization of products and services designed to track, monitor and report on the location and condition of vehicles, high value cargo and other assets. Historical data shows that the company has regularly used promotions to climb up. However, the financial condition of NVSR has not changed.
As of Sept. 30, 2011 the company has registered:
* $37,781 cash and equivalents
* $129,278 assets vs. $972,251 liabilities
* $16.8 million accumulated development-stage deficit
* $nil revenue
Considering these results, accompanied by the net loss exceeding $1 million, obviously NavStar will need much more than promotions to become profitable.
