and traded over 14 million shares during the day. As GFGUE used to trade much lower before, the stock move shocked all the market analysts.The price jump came up along with the news that the U.S. Court has dismissed a civil RICO lawsuit brought against GETFUGU and its management team. According to the announcement, all the accusations were denied and the company was ready to fulfill its business plan. Right after the matter was cleared up, GFGUE filed a $500 million Lawsuit against James Hunt, Richard Parsons, Richard Oparil and Patton Boggs for malicious prosecution and defamation.
Following the records, we noticed that GFGUE has not released much news on its activities recently, though as soon as the latest one was published, the investors got attracted and the stock climbed up immediately. However, due to all the accusations, the company has suffered financial losses and its business was threatened.[BANNER]
GetFugu is a sales, marketing and mobile development corporation based in California. The average volume of the company totals only 343 thousand, though since Friday it’s rising up extremely fast. However, the financials of GFGUE are disastrous and it’s too early for an uptrend to be registered yet.
According to the company’s quarter results, GFGUE has not generated any revenues and its gross profit has decreased as compared to the previous period. The net loss of GETFUGU is higher than before and the company’s liabilities are over 30 times more than its assets. Currently, GFGUE has no sufficient cash for its operations, while its stockholders’ equity totals over $9 thousand.
Based on these results, GETFUGU should look for urgent financing to cover the losses and continue its business activities.
