Elevate, Inc. (OTC:ELEV) is falling down this week. On Monday, the stock lost 7.41% of its price, and yesterday another 
13.33% flew away. However, unlike the price fall, traded volume of ELEV keeps moving up and it’s interesting how the company will deal with the situation.
On Thursday, Elevate reported revenue growth for the third quarter of 2012 and summarized its developments during this period. Though, the positive press release failed to pump up ELEV stock price. Yet, the company found another method to do it. Namely, by promotions.
ELEV got promoted yesterday for a total compensation of $22,500. Promoters focused traders’ attention on the stock, claiming that it is hot and unique. Though, whether it’s true, should be seen in a while.
Elevate provides data, voice, video, mobile and security solutions in 22 major markets through what the company calls a network of independent Certifiable Geniuses. Historical data shows that last month the company got a massive pump campaign again, however, the climb was shortly broken.[BANNER]
Despite the optimistic announcement on its Q3 revenues, the financial report of Elevate is not that encouraging. As of Feb 29, 2012 the company’s net loss substantially increased, as well as its total liabilities. During the same period of time, both – the stockholders’ deficit and the accumulated deficit also jumped up.
As a result of the losses, the 10-Q states that ELEV is dependent upon debt and equity financing to continue operations. However, there is no assurance that the company will be able to obtain the necessary funds through continuing debt and equity financing to have sufficient operating capital to implement its business plan.
In other words, the continuation of ELEV as a going concern is currently not guaranteed.
