stock aimed the bottom of the chart, losing huge percent of its price at shocking traded volume. However, even more shocking is the fact that CXLT started falling down while being promoted, which might be quite disturbing for investors.As already reported on hotstocked.com, at the beginning of last week the stock was flying up at full speed due to a number of promotions accompanied by good news. At that time, CXLT was furiously promoted by different websites, appearing in a bunch of promotional e-mails, and the total compensation for the campaign cost $10.000 (Canadian dollars). Though, the paying party remained unknown. To support the campaign, Calibert Explorations released some positive news on its projects, which has additionally pumped up the stock price.
Judging by some previous gains, it turns out that optimistic press releases are the regular strategy of the company, however, they don’t seem enough this time. On March 10, CXLT announced the opening of its Partnership Division, which is to provide the availability of a turn key duplicate of the NetSavingsLink.com website to U.S. media based companies, though the news didn’t support the stock price. On the contrary, it kept rushing down progressively.[BANNER]
Yesterday, Calibert Explorations made additional efforts to pump up its stock price by starting a new promotional campaign and the result is just about to be seen. After all these sharp price differences, what the next move of CXLT will be is a yet unanswered question. The only thing known, however, is that most probably the good news is not able to push up the stock anymore.
In the meantime, traders are still waiting for the next quarterly report of Calibert Explorations. In end-February, the company filed a notification of late filing and its 10-Q is still not submitted. At the same time, current liabilities of CXLT remain about 105 times higher than its assets, while the deficit accumulated during the exploration stage period is over $214 thousand. Besides the fact that the company’s revenues point zero, any issuance of common stock may cause dilution to the shareholders.
