It has been quite a while since the last time a paid promotion in support of Amwest Imaging, Inc. (PINK:AWMI) proved successful in giving AMWI stock a boost. What AMWI did yesterday, however, had nothing to do with paid advertising.
AMWI edged up $0.0071, or 17.57%, to $0.0475 per share, its first positive close over the last six trading sessions. More than 1 million shares of common AMWI stock changed hands throughout the working day, which matches exactly the average daily trading volume.
Although AMWI stock has often been subject to paid promotions, no such efforts appear to have taken place for the last five weeks or so. Nor has any fresh news come up. In fact, the latest corporate update saw the daylight on Feb. 10 when AMWI announced it had finalized an agreement with BION Exercises, LLC regarding the development of a digital media security solution based on Amwest’s LockDrop secure file storage technology. The company is expected to come up with a full version of LockDrop in the following month.
As of Nov. 30, 2011, AMWI’s quarterly financial condition showed:
- $44,461 in cash vs. $20,067 a/o Feb. 28, 2011;
- working capital deficit of approx. $50 thousand;
- quarterly revenue of $55 thousand and a net loss in excess of $111 thousand.
