On Jun. 28, Atlas Technology Group, Inc. (PINK:ATYG) introduced its subsidiary Racing Limos America to the general public. Thus, ATYG stock went up 33%, then immediately disappeared into the blue.
As it is, it took ATYG stock more than a week to rekindle investor interest. Yesterday, it returned on the charts, only to drop 12.5% to $0.07 per share. Volumewise, the situation was the same as ATYG only managed to shift 5 thousand shares, which, while five times higher than the average volume, is nowhere near its best scores. Nevertheless, third parties have just indulged in a paid advertising campaign. Estimated at $5 thousand, the latter is expected to raise awareness about ATYG stock in the forthcoming session.
Being a holding company, Atlas Technology Group is supposed to have several subsidiaries, at least. As of now, however, its primary asset is Racing Limos America, Inc. The latter is considered ‘a company of franchises made up of stretch limousines’. Each limo is decorated with a race car theme used for marketing purposes. The advertising package also includes advertising on the Internet, in social media, as well as over other conventional methods.
ATYG used to be a regular SEC filer, yet it was deregistered last November. While the reason remains undisclosed, the company has done its best to maintain a transparent policy towards stockholders. On May 17, the company published its first quarterly report applying an alternative reporting standard. The period in question encompasses the first calendar quarter of 2011. As of Mar. 31, the company’s unaudited balance sheet reveals:
- $4.032 million in assets, $4 million of which in the form of intangible assets;
- $0.9 million in current liabilities;
- long-term notes payable in excess of $783K;
- $4405 in revenue and a net loss of $149 thousand.
Investors have yet to see whether ATYG’s primary asset will eventually turn profitable or not. At this stage, any forecast stands an equal risk of either proving right, or going wrong.
