On Jun. 27, Atlas Therapeutics Corp. (OTC:ATTH) appointed retired ice hockey star Wayne Gretzky as the company’s spokesman with the sole purpose of popularising its proprietary MYO-T12(R) which was then just about to hit the shelves. Now, three months later, it is time to draw the balance.
When Gretzky’s appointment was first announced, AATH stock was traded around $0.65 per share. When MYO-T12(R) was released to the general public one month later through the world’s largest online retailer, you could buy ATTH shares at $0.69. Not anymore, though. Nowadays, ATTH’s value has depreciated to barely 1/3 of what it used to be. The last time any ATTH shares changed hands was on Oct. 11, 2011, when ATTH closed at $0.20 per share. As far as yesterday’s session is concerned, it was marked by total lack of investor interest, hence the zero volume.
So, in spite of Gretzky’s marketing efforts and Amazon’s distribution of MYO-T12(R), the company has failed to achieve anything worth remembering on the stock market. Left with no other choice, third parties have just launched a paid advertising campaign in support of ATTH stock, hoping to give it the long-awaited boost. The upcoming session is expected to prove whether the initiative was worth trying or not.
As far as ATTH’s financial state is concerned, the company finished the second calendar quarter of 2011 with:
- $529K in cash;
- working capital surplus of $465K;
- quarterly net loss in excess of $2.5 million.
Since MYO-T12(R) was released on Jul. 26, ATTH has generated no revenue for the first two quarters of 2011. Q3 is, therefore, crucial to the future development of the company. The amount of revenue accumulated by Sep. 30 will be indicative of what response consumers have given to this product. The lack of any bombastic press releases, however, suggests that the enthusiasm might not be as big as everyone had expected.
