Advanced Voice Recognition Systems Inc (OTC:AVOI) expects to take the upcoming session by storm. At least, this is what must have sprung to investors’ mind when they saw a brand-new press release immediately followed by a promotion.
Last Friday, AVOI stock slumped 23% to close the session at $0.10 per share. The turnover did not deliver any significant performance either. By the end of the day only 16 thousand shares changed hands, which is nowhere near the highest 52-week scores. Moreover, it ended up far below the daily average trading volume of 45K.
Earlier today, AVOI proudly revealed that it had submitted what is known as a Continuation-In-Part application with the USPTO, i.e the United States Patent and Trademark Office. The application in question deals with electronic speech recognition and transcription. Yet, it is still too early to see what will come out of it.
Yet, some investors do not seem to be willing to wait for long-term benefits. Now, they have joined forces for a one-off mid-day update on AVOI. The initiative has been reported to cost $2.5 thousand and is expected to pump AVOI stock for the time being.
Occupying the OTCQB marketplace, AVOI is a diligent SEC filer. Earlier this month, it submitted a comprehensive 10-Q report covering Q1 of 2011. As of Mar. 31, AVOI disposed of:
- $260 thousand in cash;
- working capital deficit of $160 thousand;
- zero revenues and a quarterly loss of $150K as compared to a loss of $170 thousand for the corresponding quarter in 2010.
By March AVOI had already issued 34% of its A/S. However, more than 355 million shares of authorized stock are still waiting to see the light of day. Considering that the company will definitely need additional capital to keep its R & D activity going, its stockholders should not be surprised in the event of prospective dilution in the months to come.
