A press release backed up by a forty-thousand-dollar promotion pushed Caduceus Software Systems Corp. (OTC:CSOC) up 35% yesterday.
As a result, CSOC closed at a six-week high of $0.135 per share. The volume, on the other hand, scored a memorable performance. Shifting a staggering 21.2 million shares, CSOC registered a 52-week volume record, head and shoulders above the daily average trading volume of 805K.
So, is the paid advertising campaign which was launched yesterday at 10 a.m going to have a continual impact aside from yesterday’s jump? The answer lies in the forthcoming session. However, it also depends on the strength of the news surrounding it. Indeed, CSOC issued a PR yesterday to provide investors with updates regarding the company’s proprietary medical software, the Caduceus MMS with regard to its successful realization on the domestic market.
CSOC is a regular SEC filer, hence its OTCQB market status. Last month, it filed a full-on 10-Q for the second calendar quarter of 2011. As of Jun. 30, 2011, the company has:
- total assets of $954;
- negative working capital of $34 thousand;
- a quarterly net loss of $4.98 million.
If the company continues to accrue losses at this rate, it will be unable to continue as a going concern sooner than its supporters would like. Obviously, selling laminated flooring does not appear to be a commercially viable business for CSOC, at least for the time being. The company does have some reserves of A/S, namely 125 million, which could be used at some stage to raise capital.
