Global Security Agency Inc. (OTC:GSAG) has been engaged in the security sector since April, 2010. So far, the stock of the company hasn’t seen a lot of trading. Today, a promotion may help the situation.
Yesterday, GSAG closed down 13.33% at $0.13 with just 9,300 shares traded, which is still above the average for GSAG of 6 thousand.
On Nov. 17 the company announced the signing of a support services agreement with a federal contractor with the US government. The news didn’t seem to do much, except bring the price down from $0.19.[BANNER]
Now it’s the promoters turn to try to get GSAG to trade actively. A promoter disclosed an expected $20 thousand compensation from a third party for its services.
The promoter says “GSAG has experienced rapid growth over the last year,” comparing revenues for the nine months. Taking into account that GSAG hadn’t changed its focus until April 9, 2010, the comparison of 9 months’ results is not adequate.
The company has had some good quarters and some bad ones. The latest report shows $385 thousand revenue and $50 thousand net income from operations, but the net income after tax and interest is just $8 thousand.
GSAG isn’t in a desperate financial trouble, unlike many companies on the OTC, but unless it convinces traders and investors it can really grow there is a very low chance it will get the attention it wants.
