Eight promotions, $70 thousand. No result. Yes, you have read it right – despite the herculean efforts made by a number of interested parties to pump the stock of Here Enterprises Inc (PINK:HRTE), the latter has failed to get out of the steady downward spiral it entered a month ago.HRTE claims to be a wind power developer – a field that is supposed to have the potential for growth. Moreover, its managers have recently been showing a great level of activity as a lot of strategic announcements have already popped up. Two days ago, HRTE was reported to have joined a 600+ member Texas association encompassing all aspects of renewable energy industries. Nevertheless, yesterday’s trading session brought about another negative performance of HRTE stock – a 7% decline in price and a three-fold decrease in volume.
HRTE is a registered SEC filer. Founded in 2007, it was incorporated in Nevada. Its latest 10Q report covering the period ended Nov. 30 draws a very bleak picture for a company in its development stage, namely:
- $1.3 million – working capital deficit;
- a quarterly net loss of $630K.
The figures mentioned above hardly justify the $10 thousand monthly remuneration of CEO Mark. K. Ryun. The company has been issuing convertible notes with regard to the repayment of a promissory note of $640 thousand. Considering its current financial state, HRTE managers will most probably fail to make the payments and will be issuing further notes instead.[BANNER]
On the other hand, it must be pointed out that wind power is a field of huge potential. Since HRTE is in full possession of a couple of properties, some of which have already been equipped with proper facilities, it could actually turn profitable in the near future and reward its most loyal stockholders for their patience and support.
While the future of the company is far from certain, it will most probably continue to rely on equity financing. However, so far, paid promotional campaigns have barely borne any fruit. Therefore, a more practical focus on concrete achievements will definitely exert a much more positive influence on market players.
