SourcingLink.net, Inc. (PINK:SNET) closed the last couple of trading sessions on a high note, prompting third parties to embark on a paid pumping effort today.
Yesterday, SNET edged up $0.0019, or 6.55%, to $0.0309 per share, shifting a volume of 594 thousand. SNET also gained 7.4% in the preceding session. Yet, technically speaking, an uptrend is still out of reach considering that the MA(50) currently stands at $0.0357.
The newest promotion in support of SNET reached our database last night. Evaluated at $25 thousand, the campaign is aimed at giving SNET a boost big enough to crack the MA (50) threshold. Whether the initiative will meet with success or not will be evident within the next few hours.
Located in Orange County, CA, SourcingLink.net, Inc. has a network of subsidiaries which have been offering car sharing and luxury automobile membership services for more than nine years now. Thus, customers gain direct access to a fleet of motor vehicles against a fairly reasonable fee.
While SNET’s business operations should in general prove appealing to customers, the company’s financial report for the quarter ended Sept. 30, 2011 indicates that this is not exactly the case. In fact, the company has zero cash reserves and a negative working capital of approx. $500 thousand. Surprisingly or not, the company’s revenues from membership fees currently exceed its operating expenses, hence the positive net result of $70 thousand.
