DPOLLUTION INTL INC (PINK:RMGX) is by no means among the most diligent news providers on the pink sheets. Nevertheless, its stock has been enjoying active trading for quite a while now. Yesterday in particular, RMGX spiked 20%, closing the session at $0.24 per share, which is the highest price level since Apr. 8. The turnover, on the other hand, reached a ten-week high of 845 thousand, way above the daily average volume of 260K.
More often than not, such solid movements are accompanied by either fresh news or promotional back-ups. This time however, neither of them seems to have taken place. The company has kept silence for more than three months. The last time it issued a press release was in late-January when it had to counter rumours regarding the health of its Chairman.
Headquartered in Westmount, Canada, dPollution International Inc. claims to have patented a whole new fuel-conditioning technology that can be used on a variety of internal combustion engines. In addition thereto, RMGX seems to have taken out a patent for three fuel conditioning devices designed to improve the combustion efficiency of both gasoline and diesel engines. It also endeavours to reduce toxis emissions.
Although RMGX rarely churns out any news, it has so far remained fairly diligent regarding its financial policy. Last month, the company published its unaudited report covering Q4 of 2010. As of Dec. 31, 2010 RMGX had:
- $308K in current assets;
- $804 thousand in current liabilities;
- a quarterly net loss in excess of $258 thousand.
Since the company has already received a couple of purchase orders for its device, it stands a good chance of generating sales revenue for the first time in Q1 of 2011.