Apparently, disappointed by AGIJ, traders have started to dump off their shares and the company hurried up to ensure its stock position.Yesterday, Axia Group was promoted by stocktwiter.com, pointing out that it “is off to the races on big news!”, due to the latest news by the company. The promotional campaign was paid by MinaMar Group. and was worth $30,000 for a day. Looks like it was a hard effort for cutting off the loss, though yet unsuccessful. Still, the next move of AGIJ is just about to be seen.
Axia Group, Inc. main subsidiary Collagenna Skin Care Products is a cosmetics company providing anti-aging skin care solutions. The last news by the company was a further release to AGIJ’s announcement from last October. Mr. Michael Arnkvarn, CEO of Axia, informed shareholders on the company’s activities and forward guidance, stating that “The last few months have been quite productive for our company”. This statement was also accompanied by new business options and negotiations with potential business partners. However, it looks like the optimistic statements couldn’t pump up the stock price, and now the only thing to rely on is promotions.[BANNER]
Though, the most disturbing thing about Axia Group turns out to be its latest 10-Q report. According to it, the company’s liabilities are much higher than its totals assets and by end-September 2010 the total deficit has exceeded $25 million, not considering the net loss. Meanwhile, revenues of AGIJ are too poor to cover the liabilities and the negative cash flows.
In August 2010, Axia purchased its new subsidiary Collagenna Skin Care Products and announced its new management plan, though due to its huge deficit and operating loss, the continuation of AGIJ is highly dependent on its ability to meet its obligations, or obtain additional financing. However, none of these can be guaranteed.
