AISystems, Inc. (OTC:ASYI) jumped a staggering 57% yesterday, which would otherwise be quite an impressive surge if ASYI had not actually been a sub-penny stock.
Indeed, ASYI closed the latest trading session at $0.0022 per share, up $0.0008, on a record-breaking volume of 17.2 million. Besides an all-time high, the latter is also seven times greater than the daily average trading volume.
Although $0.0008 appreciation is by no means a cornerstone, it proved more than enough for ASYI to make a technical breakout by surpassing the MA (50) line. While the latter might pave the way for a continual upward trend, it could also mean nothing. Because, the last time the company’s shares did the same, which was exactly a month ago, their surge only lasted for a couple of days before crashing down again.
Founded in 2005, AISystems, Inc. specializes in developing software solutions for the airline industry. At present, the company has the licensing right to develop its proprietary jetEngine, which is a business platform designed to integrate all the activities concerning the airline business from planning to revenue management.
As shown on its latest 10-Q form, ASYI concluded the third calendar quarter of 2011 with:
- $10,354 in cash;
- $28K in current assets vs. $11.75 million in current liabilities;
- net quarterly loss of $1.75 million, which is a 22% improvement over an annual basis.
While ASYI has lowered its losses as compared to the corresponding quarter of 2010, this step is still far from sufficient to start melting the huge working capital gap away. What is more, even if ASYI continued to improve its net results at this rate, it would take ages before the company goes in the black.
