
After the 1:100 reverse stock split became effective at the beginning of the month, GETAD shares look more valuable.
Though, the stock added real value just yesterday, as the company’s financials for the quarter ended this June were released.
Yesterday, GETAD stock opened the market below $2 per share. On almost half a million shares changing hands, GETAD closed at $2.23. According to some recalculations reflecting the effects of the stock split, that price is 56 times less than the 52-week high.
As opposed to the stock rush from last month, the shorted volume during yesterday’s trading session was only 32% and the stock alerts were directing investor attention to the expected financials of the company and to the volume gains of the stock.
It is a fact that GETAD stock surged 31.95% within a day. One of the main reasons was that the company rewarded its investors with the financial results for the first half of the year.
It was expected that GETAD will report a loss for that period. Though, among the most important information in the company’s release was the guaranteed cash for operations.
At the end of June, GETAD had cash and cash equivalents totaling $15.6 million, compared to $1.2 million at the end of last year. The company’s projections are that the average net monthly cash outflow will be around $1.2 million for the balance of 2010.