During yesterday’s session, the share price of Global Casinos, Inc. (PINK:GBCS) fell to $0.33 and put thus the continuation of the uptrend strongly under question. There is no news from the company recently, the only announcement being the financial report for the past fiscal year filed on October 13. 
GBCS performance yesterday was more than unexpected as the share price fell sharply down from $0.57 shortly after 1 pm. The session closed then at $0.43 for a share, which represents a 23.21% decline from the previous close, while the trading volume was also huge with over 672,800 traded shares.
GBCS has been in a strong uptrend in the past six months, unceasing its value from $0.10 in June to $0.59 – also the 52-week high reached on Tuesday last week. As mentioned, it is not known what is behind both the jump last week and the fall yesterday, but in any case it looks like GBCS stable appreciation may end up soon.
According to the 10-K, Global Casinos operates in the gaming industry and had as of June 30, 2011 two operating subsidiaries which hold two casinos located in Colorado. Also, the company holds a 25% equity stake in a another company which owns some gaming technology.
Unfortunately, GBCS has been reporting only losses in the past several years and currently the company has a working capital deficit of over $472,000. Management states to be working on obtaining additional capital in order the restructure GBCS debts, yet currently there are no arrangements on place.
