fall by losing the next 0.25% of its price on a traded volume of over 1 million shares.Unlike the 43% gain at the beginning of this month, now the investors look disappointed by ANTS and have started dumping their shares.
The latest news about the company came up a few days ago, reporting details about the annual stockholders meeting of ANTS. At the meeting a reorganization of the company’s Board of Directors was made, along with some new appointments in ANTS’s management. The company has also approved increasing the number of authorized shares of common stock to 300 million, as well as the reservation of an additional 10 million shares for issuance under the company’s 2010 Stock Plan. ANTS presented also a number of conditions that could make the company profitable.[BANNER]
However, it looks like this news didn’t encourage traders and the fall began.
Meanwhile, according to its quarterly report ANTS has registered higher revenues as compared to the previous period, though its operating loss hasn’t been covered yet. The company’s long-term debt totals over $13 thousand, the operating loss exceeds $3 million and the accumulated deficit is over $141 million.
According to the 10-Q report, ANTS “has significant near-term liquidity needs” as it “has suffered recurring losses from operations, has a working capital deficiency and has generated negative cash flows from operations”. Having in mind these facts, if the company’s management doesn’t find a way to generate profits or ensure additional financing, ANTS’s future operation would be under question.
