A ten-week price peak and a three-year volume record marked yesterday’s trade with the stock of Destiny Media Technologies Inc (OTC:DSNY). This performance occurred exactly one week after a comprehensive corporate profile of the company was featured in a newsletter alert campaign.
Closing at $0.4536 per share, DSNY closed the month of October on a fairly high note. Not only did it reach its highest value since mid-August, but also it shifted a record-breaking volume of 719 thousand shares.
Headquartered in Vancouver, Canada, Destiny Media Technologies Inc specializes in developing and marketing digital media software and solutions not only within the UnitedStates, but also in Europe and Australia. So far, the company has created two main product lines: MPE used for secure downloading of content to a computer, and Clipstream for immediate video content playing.
As shown in the latest official 10-Q report, DSNY concluded the quarter ended May 31, 2011 with:
- cash reserves in excess of $490 thousand;
- working capital surplus of approx. $1 million;
- $1.17 million of revenue and quarterly net income of $230 thousand.
Although about $1 million of DSNY’s current assets are either receivables, or deferred tax assets, the company appears to be doing just fine, especially considering that this is the fourth consecutive quarter in which DSNY has achieved a positive net result. At the same time, however, the net income trend has also been on the decrease, which could pose potential challenges for managers in the foreseeable future.
