When CommerceTel Corporation (OTC:MFON) published its Q4 financial report last Tuesday, it lost more than 20% in value in just within a couple of hours. MFON then struck back for two consecutive sessions, only to close the week at another loss.
Yesterday, MFON closed trade at $0.85, down 11.46% from its previous close on a volume of 5,050. Thus, MFON hit a 52-week low in terms of market value and realized one of its weaker volume performances.
In an obvious attempt to buck the negative trend, third parties launched a full-on promotional campaign in support of MFON yesterday, approx. 2 hours prior to the end of the session. As it turned out, however, the effort bore no fruit and MFON stock remained stuck on the intraday low value of $0.85 per share.
CommerceTel specializes in developing various mobile marketing technologies, as well as the so called C4 – a novel cloud-based solution capable of providing broad mobile communications.
While the most of MFON’s financial indicators for the fourth calendar quarter have definitely shown a marked improvement on a both quarterly and annual basis, they still pale in comparison with the company’s working capital gap of approx. $5 million and quarterly net loss of $14.3 million. The latter appear to still be a bitter pill to swallow for investors.
