The prize for the best performing of the penny stocks for the last few sessions easily goes to AGR Tools, Inc. (PINK:AGRT) as its recent chart run has been nothing short of phenomenal.
Shares of AGR Tools, Inc. surged by more than 57% Monday and 63% Tuesday. As a result, AGRT currently stands at a record-breaking $0.018 per share. More than 3.4 million shares of common AGRT stock were traded yesterday due to huge investor interest. This is clearly the second highest volume the company has shifted within the last six months.
While issuing press releases is by no means a strong asset of the company’s managers, they have adopted a fairly open-door policy as every corporate update/event is filed with the SEC. As you might have known, AGRT’s latest 8-K form came up on Feb. 14 to reveal a stock purchase agreement. According to the latter, shareholders of the company have now sold a total of 40.3 million shares of restricted AGRT stock. The sellers, who all turned out to be BoD members, also reported to have voluntarily quit their jobs in the company.
Whether the change in management will affect the company’s current business activities and financial performance has yet to be seen. What is clear at the moment is that AGRT closed Q3 of 2011 with:
- $4,665 in cash;
- negative working capital of $617K;
- quarterly revenue of $33,724 vs. $205,443 accumulated in Q3 2010;
- net loss of $82,569 as opposed to a loss of $75,920 incurred in Q3 2010.
