AeroGrow International, Inc. (OTC:AEROE) was pretty much the highlight of yesterday’s trading session. The reason: a six-month price record plus an all-time volume high. The latter immediately provoked a free alert campaign in favor of AERO stock for the upcoming session.
Shifting a corporate record of 2.87 million shares, AERO stock went through the roof, gaining an impressive 139% up to $0.055 per share, although it reached as high as $0.095 at certain periods during the session.
At first, AERO’s ride does not appear to have been backed up by any earth-shattering corporate news. As a matter of fact, the company’s PR policy is by far not as active as it could be. In this respect, AERO’s latest official updates refer to its recently published 10-Q, as well as the resignation of Eide Bailly LLP as the company’s independent certifying accountant after a three-year flawless collaboration.
Speaking of financials, the aforementioned 10-Q saw the light of day on Nov. 14 and the company held a special conference call with investors to discuss the financial results achieved during the third calendar quarter of 2011. As of Sep. 30, AERO disposed of the following assets and liabilities:
- $102K in cash;
- $2.77 million in current assets vs. $4.07 million in current liabilities;
- $1.49 million of sales revenue, i.e an 8.5% increase on an annual basis;
- net loss in excess of $1 million as compared to a net loss of $2.13 million incurred in Q3 of 2010.
Overall, the company has shown some definite signs of improvement as far as its basic financial indicators are concerned. Nevertheless, the company’s expansion must continue at an accelerated pace if managers want to leave all negative quarterly results behind.
