
So, 5 million restricted trading shares. This is the price paid for all the promotions going on in July. A month, that started at $0.13 per share, and ended at $0.10 per share. Not much happening this July. Not like June this year, when trading activity, boosted by news and promotions, would hit levels above 1 million shares exchanging hands during some sessions. Well, the stock price was also way up to $0.25 back then. During July, trading activity would never go above 220k per session.
Now, there is one document that came out in June, which, however, usually has an impact on the market, that could last for quite some time. This is the balance sheet, the quarterly statement in particular. The 10-Q in question covers a period with an end-date April 30th, this year and includes the following:
- $25k in total current assets(deposit);
- $274k in total current liabilities;
- $249 in total deficit;
- $86k in net loss;
- $no revenues; [BANNER]
In terms, it is not surprising that this stock is still not capable of showing sustainable growth in the share price. The uncertainty that comes along with CLNO, coupled with promotional activities makes it harder for an investment decision to be made. As long as similar balance sheets appear, together with a countless number of promotional newsletters, uncertainty would prevail.