Yesterday, the heavy total trading volume that Citadel EFT, Inc. (PINK:CDFT) stock got at the end of the session was still not enough to results in a higher closing price. Neither was the first promotion for CDFT, which also took place yesterday. 
Just like on Tuesday, CDFT closed again at $0.20 for a share, although the trading volume reached the highest value ever in the stock’s short trading history – 31,750 traded shares for the day. Even the “breaking news” press release and the promotional e-mails from the early morning could not make CDFT that popular. The share price jumped to $0.25 at market open, which means a 25% jump from the previous close, yet intraday chart shows that most of the trades took place at the end of the session.
A couple of promoting e-mails came in yesterday, compensated with $2,500 from a third party, the latest one only quotes the press release that Citadel issued. It said that the company’s revenues have increased by 39%, but that did not produce a real rush on the market. According to the stock chart, CDFT trades since the middle of June, thus it seems it will take that more time, and maybe much stronger PRs and promotions, to get some real attention from traders.
Citadel’s latest 10-Q came out at the beginning of the month and according to it the company operates terminals for processing credit card transactions. Revenues for the three months ended June 30, 2011 amounted $127,648, actually a 39% increase from the same period last year. Not mentioned in the PR, however, was the not less impressive increase in the operating expenses for the same period: from $39,097 to $3,663,565.
Also, CDFT has total assets for $122,000, while its market caps exceeds $16.8 million currently with the new number of issued and outstanding common shares as of end-June, which is over 84 million according to the company’s financial report.
