After several run-of-the-mill market performances, Empire Film Group Inc (PINK:EFGU) is finally in for a big gain today. A brand-new press release, backed up by a $45-thousand promotional wave, is expected to lift EFGU stock as high as it can get.
Yesterday’s trading session had a fairly insignificant impact on EFGU stock. Indeed, more than 1.5 million shares changed hands, setting a six-month record, way above the daily average volume of 480K. Yet, EFGU stock only lost 1% in value, closing at $0.046.
Empire Film Group Inc occupies the motion picture and video production industry. That is why yesterday’s new movie announcement hardly came as a surprise. While investors gave a lukewarm response to the news, they might change their course now that the new advertising campaign will be providing coverage for EFGU stock for the next seven days.
Although EFGU has been classified as a limited information provider, by early February it had already filed its annual 2010 report. According to the balance sheet, the company had:
- $3.7 million in current assets;
- $774K in current liabilities;
- $620K in total revenues, 98% of which has been described as ‘other income’ and only $10K as ‘product sales’;
- net income in excess of $465 thousand.
The company has evaluated its film and television program library at $9.5 million. Being relatively stable financial-wise, EFGU might not resort to dilution right away. Nevertheless, anything is possible when there are 70 million authorized shares waiting to be issued.
