while the traded volume of ANTS jumped over 845 thousand shares.Obviously, traders are not much encouraged by ANTs Software and started dumping their shares.
The latest news about the company was released a week ago, stating that ANTS and IBM was to showcase the new IBM Skin Innovation at the upcoming IBM Information On Demand Conference on October 24-28. According to Joseph Kozak, Chairman and CEO of ANTS, the conference was a great opportunity for the company to meet new customers and to present the innovative technologies of ANTs Software.
After releasing the announcement, no other news on ANTS has been published.[BANNER]
ANTs software inc. is revolutionizing and simplifying DBMS migration, hardware consolidation and IT modernization. In mid-May this year, ANTS stock price reached over $3 per share and its volume exceeded 1 million shares, however, the price has been into a downtrend since that time.
The company’s quarterly report shows that revenues of ANTS have decreased as compared to the previous period, though its operating loss is still high. The company’s total assets are a bit higher than its liabilities, however, the stockholders’ equity has decreased by almost 50% and ANTS has long-term debt to pay.
According to the 10-Q report of the company, its management team believes it has sufficient funds to operate until the fourth quarter of this year. However, “Should additional financing not be obtained, the Company will not be able to execute its business plan and the recoverability of its intangible assets may become impaired”.
Besides, as a result of the operating losses, the working capital deficit and the negative cash flow from operations, there is a substantial doubt about the ANTs Software’s ability to continue as a going concern.
ANTS will be holding its 2010 annual shareholder meeting on November 19, while in the meantime investors should carefully observe its future stock movement.
