There is an old saying that usually good weather comes after the storm. At least most people hope this is really so.
On the Toronto Stock Exchange (TSE), the stock managed to move 23% up on a large turnover of 4.67M shares. Now APV is moving further away from its 52-week low of $0.115 that was set only two weeks ago. Presently, the stock is traded at $0.165, or 43% higher.
It is hard to tell whether the progress of the shares will continue in the coming days. It looks, however, that today’s session will be a hot one too. Less than two hours after the opening, we see over 2M shares of APV traded on the TSE.
No new developments have been issued by the company in March so far. In view of this fact, we might suggest the stock is probably rising speculatively. Perhaps, some traders have decided to earn quick profits from their bids on APV.
The latest news announced by ARISE was from late February. The public was informed that the company is trying to get an extension of its trust agreement with its German banker Commerzbank AG to Dec. 31, 2011.
At the end of last year, ARISE had outstanding loans in the amount of approximately €20M with Commerzbank. The company is expected to meet certain conditions in order to secure an extension of its loan facilities.
It is still not clear whether ARISE has managed to fulfill all these requirements. Maybe, this will soon be announced.
In the meantime, the company has what to improve regarding its financial state. As the latest filed statements show, ARISE has a net loss of $5.2M for the third quarter of 2010. This comes despite the announced revenue of almost $23M.
Fortunately, the company completed a 15.8M financing in January. Still, it is of vital importance how the above-mentioned credit facility with Commerzbank will be arranged.
