Barely three weeks have passed since Greencell Inc (OTC:GCLL) was last promoted and now it has returned to the promotional spotlight for another pumping ride.
Yesterday, GCLL slumped by 27% to $0.60 per share, following an audio interview with CEO Dan Valladao. Today, the company published another press release as if attempting to exert some positive influence on the market. While the new release sounds bombastic and promising, its possible impact on the upcoming session can hardly be measured. The reason: a brand-new paid advertising program organized by third parties to give GCLL stock what it lacked yesterday, i.e a major boost. They have invested $9 thousand in this initiative.
Founded in 2009, Greencell Inc specializes in developing gas appliance igniters, oxygen sensors targeted at original equipment manufacturers, industry distributors and resellers. The company’s headquarters are located in Orlando, FL.
As a regular SEC filer, GCLL filed a full-on 10-Q report for the second calendar quarter of 2011. As seen in the report, the company’s balance as of Jun. 30, 2011 showed:
- $4,022 in cash and total current assets;
- negative working capital to the amount of $200K;
- zero revenue and a quarterly net loss of $104 thousand.
When GCLL finally launches what it calls a revolutionary product, Valladao expects it to be used in a number of applications in a market whose potential has been estimated at approximately $600 million. If this would-be product meets with success, GCLL will stand a good chance of maximising shareholders value. Otherwise, it would all be just wishful thinking.
