Activecare, Inc. (OTC:ACAR) has been trading down since the late filing notification and the following 10-Q. Currently, it seems to have found something of a shaky support at $0.50.
Yesterday was the third session in row in which ACAR closed at $0.50. The volume was above the average – approximately 168 thousand.
After the markets had already closed, ACAR appeared in at least two paid promotional newsletters. Wall Street Grand disclosed they had been compensated $40 thousand for a month of promotional services.[BANNER]
The other promoter, Lebed Biz, was compensated by Wall Street Grand $20 thousand for a month. Both newsletters proclaim “ACAR is the service leader in virtual care for the elderly, disabled or chronically ill…”
If that is indeed the case, the sector isn’t in a good place right now. According to the latest 10-Q, on June 30, 2011 ACAR had a working capital deficit of $744 thousand and $318 thousand in cash. The total revenues for the quarter were $185 thousand and the loss from operations – $2.8 million.
Until further developments reveal the long-term fate of ACAR, we can see what promotions will do today.
