Closing in the red after a paid pump is not an unusual occurrence for Greenway Design Group, Inc. (PINK:GDGI), except this time the promotional spike didn’t last much more than an hour.
In mid-September last year, GDGI got a much more shocking spike on a promotion. However, back then the compensation was at least $400 thousand. This time it’s just $25 thousand.
While the price increase wasn’t nearly as impressive as the ones from previous promotions, and it didn’t last a day, the volume generated yesterday was significantly higher this time – approximately 4.6 million shares.[BANNER]
The pump wasn’t the only factor in GDGI’s performance yesterday. The company issued a press release in the morning, boasting about a test installation for a Pepsi Bottling Facility in Tulsa, Oklahoma. This month GDGI has announced other installations too.
As you can see on the chart, traders aren’t too impressed by the press releases. This could be because the company still hasn’t managed to turn a profit.
On its web site GDGI claims “thousands of property owners use Cool-n-save at home and in their businesses…” and yet, as per its latest financial report, GDGI had just about $6.5 thousand in cash, $119,475 total current assets, $412,751 thousand total current liabilities and staggering $3.4 million total liabilities.
