the stock lost 45.45% of its price on a trading volume of over 129 million shares.Apparently, investors are selling off shares intensively and the stock is pulling back. While in the meantime, nobody knows what’s going on with Hi Score.
The last official news about the company came up in end-September and since then there is no information about HSCO’s activities. Yesterday, there were some rumors on investorshub.com that the company has been in a transition process, however, it wasn’t confirmed.[BANNER]
Hi Score Corporation serves as the parent company for Green LED Technology Inc. and is the leading supplier of eco-friendly lighting products in the Western Hemisphere. At the beginning of the year, the stock price reached over $1 per share, however, since then HSCO has entered into a downtrend.
A number of times the company failed to provide its quarterly reports on time. The same will happen with the latest one as well. According to its previous report, the company has only 6 employees and all operations are financed through its wholly owned subsidiary Green LED Technologies.
Hi Score is still in a development stage and has limited revenues and huge expenses. The company’s net losses have increased by 118% and its working capital has turned into a working deficit. The management states they have no sufficient capital to meet the current cash needs and intend to “seek additional capital and long term debt financing to attempt to overcome our working capital deficit”.
Based on the above-mentioned, there is a going concern about the future of Hi Score, as “There may not be sufficient funds available to us to enable us to remain in business and our needs for additional financing are likely to persist”.
