Davi Luxury Brand Group, Inc. (OTC:MDAV) aims the bottom of the chart. The stock has been moving down since last Friday, 
and this week it fell much deeper. Yesterday, MDAV lost 13.79% of its price and its traded volume notably decreased. Though, what’s next today is hard to be said.
Apparently, Davi is not satisfied with its chart position these days, thus it got promoted yesterday to pump up its stock price. The promoter was Sizzling Stock Picks and the compensation for the campaign totaled $2,500.
The result is yet to be seen, though apart from promotions presently Davi has nothing else to rely on. The company has not released any news since August and no one has a clue about its operations.
The latest unaudited 10-Q report by MDAV came up three months ago and it was not promising at all. As of June 30, the company’s assets were higher than its liabilities, though its accumulated deficit substantially jumped up, as well as the net loss. Besides, presently MDAV has no available credit, bank financing or other external sources of liquidity.[BANNER]
Davi’s management claims that in order to be able to fully implement their foregoing plan of operations they will probably need as much as $2,000,000.
The funds MDAV has raised in January 2011 are expected to be sufficient to fund all of its working capital needs during the development and initial roll-out of our products.
Nevertheless, Davi may need additional funds but its status of a company that has limited operations is expected to make it difficult to obtain additional financing through the issuance of equity or debt securities.
