trade, while its efforts to move up didn’t appear to be successful. Yesterday, AMCG began to move down again and no one knows how far it may go.The most impressive thing here is that AMCG has had five promotions during the past couple of days, which apparently haven’t pumped up the stock price yet. The records show that Amico was promoted by four different promoters and each of them has been compensated $15000 by a third party, Flip Ventures LLC. Today the fifth promotion of AMCG was on, though this time the compensation and the third party involved remained unknown. Will the last promotion push up the stock price? It will be soon clear, however, it is obvious that Amico makes great efforts to get the up move. Meanwhile, investors are concerned about the stock price as it currently trades at its 52 week low.
Amico Games Corp. is a development-stage company engaged in the development and distribution of mobile phone games for the Chinese market. The last news released by the company came up about two weeks ago, when AMCG reported that the registered users for their online games have grown to over 30M. However, since then, no more on the company’s activities has been announced.[BANNER]
According to its latest 10-Q report, as of end-November, 2010 Amico’s revenue has decreased and the company’s incurred loss from operations totaled $7,144. Besides, cash and cash equivalents of AMCG have got lower, while some of its expenses have increased. The company’s management claim they anticipate to meet their ongoing cash requirements by retaining income as well as through equity or debt financing. However, the team expect that their expenses over the next 12 months will be over $2 million. In that case, Amico will certainly need additional financing for its operations, however, there is no guarantee that any such financing will be available.
