Yesterday, it looked like FITT Highway Products Inc. (OTC:FHWY) stock would return back to normal after the promotional rush last week. Though, promoter would not let FHWY return to its long-term downtrend and have started a new campaign late in the afternoon. 
Last session closed with a 3.77% increase at $0.055 for a share and a trading volume of 64,700 shares. During the session, the share price of FHWY fell through the $0.05, which can be considered a strong signal that the current trading range cannot hold for long, of course without any new promotions.
Yesterday afternoon we received a new e-mail on FHWY which appealed to traders to put the stock on the radar for Tuesday session. The mail contains no news as there hasn’t been any recently, but yet the promoter received $35,000 as compensation for two days of “investor relations marketing”. A third party has provided that budget, thus it is known what one could expect soon.
According to FHWY latest financial reports, the company is the business of manufacturing and distribution of energy drinks. With zero cash, zero revenue and a working capital deficit in excess of $4.4 million as of June 30, 2011, it does not look like FHWY products have met a lot of acceptance on the market. The 10-Q does not give a clear explanation for that failure, however.
The management believes that the lack of any significant revenue is due to the lack of working capital that does not allow proper marketing and sales initiative, in turn the lack of cash is due to the lack of investors who all get scared away from FHWY huge debts. Since a company with true potential would rarely find itself in such a dead-end, the doubts about FHWY future success remain very strong.
