Wikifamilies, Inc. (PINK:WFAM) has been on a downtrend for almost a year now and nothing seems to be able to bring that negative movement to a halt. That is why, the latest promotion launched in favour of WFAM stock has definitely caught investors’ attention.
Last Friday, WFAM edged up $0.008, or 3.64%, to $0.228 per share, one day after hitting a 12-month low of $0.22. A total of 36,605 shares of common WFAM stock changed hands, well below the average daily trading volume of 134K. Today, the situation is totally different. Within the first 60 minutes of the current session WFAM has already gone up 53%, while the volume is on the verge of hitting 700K.
A couple of hours ago, the developer of patented social media solutions informed investors that its presentation at the 2012 GSMA Mobile World Congress had met with success as major mobile carriers and telecoms were said to have expressed interest in building strategic partnerships with WFAM. Earlier today, WFAM found itself caught in a huge promotional whirlwind. The effort costs at least $111 thousand and is expected to give WFAM a boost within the next few days.
WFAM finished the third calendar quarter of 2011 with:
- $15,534 in cash;
- working capital surplus in excess of $400 thousand;
- $2,550 in revenue and a net loss of $294,107, both incurred since inception on Feb. 15, 2011.
