The stock price has remained virtually unchanged over the last half a month and has even depreciated in comparison with the beginning of December when APV was worth $0.21 per share.
But the high turnover perhaps foretells that a more prominent alteration in the price is just forthcoming. It is still unclear in which direction the change will be.
The heavy trading of ARISE shares maybe has something to do with some recent news released by the company, all related to a previously announced brokered offering for $15M. A few days ago, ARISE proposed a third consecutive closing of the offering, and yesterday it filed a fourth amended prospectus supplement. The company anticipates to raise $3.25M as a result of the latest placement closing and the total cash generated from the three closings is expected to be over $15.75M.
The money is to be used for two main purposes: to repay a previous outstanding bridge loan of $1.75M and to finance the purchase of equipment for a third production line at the company’s German PV Cell production facility.
Probably, that news has led to the accumulation of volume, but has not been able in any way to cause a rise in the share price.
Presently, ARISE Technology Corporation is seemingly not very popular among investors. Yesterday, APV closed the session at $0.165 per share, staying very far from its mid-April peak of $0.470 and last Wednesday it even deposited a 52-week low of $0.155.
The public does not look impressed by the three digit figures announced in ARISES latest financial report either. The company has declared a 251% jump in revenues and accordingly a 143% rise in the cash in comparison with Q3 2009. However, the financials also reveal a huge 350% surge in accounts receivables, which have grown faster than the revenues. This is way too much and might cause some trouble if ARISE is unable to recover all amounts it is owed to.
