Last week Comcam International Inc (OTC:CMCJ) broke up the loss. After a huge price fall in mid-week, the stock soared 
40% on Friday and its traded volume started rising up again. Though, at this point the reason for the unexpected price jump remains unknown.
The company has not released any news on its business over the past days, apart from its financial report, so no one knows about its current operations. Though, CMCJ got the climb.
Considering the company’s 10-Q report, it certainly cannot be the reason for the gain. As of March 31 this year CMCJ has had almost as much assets as liabilities in its balance and it has not paid its long-term debt yet. Meanwhile, the company’s accumulated deficit exceeded $8 million and it has not enough cash to cover it.
Comcam has negative working capital and significant losses since inception and these factors taken alone raise substantial doubt about its ability to continue as a going concern. The company’s management is in the process of procuring additional financing, though it is not certain if its efforts will be successful.[BANNER]
In April, CMCJ entered into a letter of intent to acquire 1st Choice Security Solutions of Georgia in a stock and cash transaction. However, the transaction is expected to close in June this year. In the meantime, Comcam keeps selling shares of its common stock, unable to cover the losses under the risk factors it is operating.
What’s next for CMCJ? Is it going to deliver some positive news to investors, or the stock will be back down?
