Li-ion Motors Corp. (OTC:LIMO) closed the 2011 fiscal year with … a 1-for-5 reverse stock split. The latter was completed on Feb. 22. Now, there is a brand-new promotion going on in support of LIMO stock.
Two promotional emails worth a total of $7,500 hit our newsletters database last night, i.e shortly after LIMO edged up 2% to $0.204 per share. Shifting more than 249 thousand shares, LIMO triggered a real trading frenzy.
LIMO has just published a comprehensive update on its business activities following the reverse split mentioned above. As it is, LIMO is currently in the process of developing an in-house motor controller which is expected to work with the patented Battery Management System (BMS). In 2007, LIMO sold the first lithium electric car ever.
LIMO’s latest quarterly reports indicate that the company has been experiencing difficulties in collecting its ARs, which in turn has a pretty negative impact on its cash reserves. In addition, LIMO’s net financial results for the last four quarters have all been negative. That is why, while the company’s main business is definitely a high-potential one, it has not got the most of it yet.
