All the catalysts in place, or at least most of the regular catalysts in place – Tuesday for iMetrik M2M Solutions Inc.(OTC:IMEK). Just a regular session. Should have not been one, though. 
iMetrik just issued a press release. It`s launching its Cellular Gateway – a plug and play system for deploying an entirely wireless M2M solution in a single step. This is what the press release states, among other things. Just one part of the catalyst team. The other – promotions.
9:27;9:29;9:31 – the intervals at which promo newsletters were coming yesterday. Three for the day, paid with $25k. Three times more than the dollar volume on the stock market yesterday. A session that would close at $0.45 per share, or with 4% decline in the stock price for the day. What is more interesting is that the day before that the trading volume was higher as the share price was higher, too. Interesting development, considering the catalysts in place.
Now, one reason for that might be the balance sheet of the company. It is certainly not as promising as the promotions or the press release. The last quarterly statement to come out, the 10-Q with an end-date Feb,28th,2011, includes the following, among other figures: [BANNER]
- $43k in current assets;
- $600 in cash;
- $43.7 in total current assets;
- $197k in total current liabilities;
- $203k in accumulated deficit
- $no sales;
- $171k in net loss(for the 9 months, ended Feb.28th);
With the above figures in mind, it might be clear why this company still fails to attract attention. Founded in 2009, it is still struggling to push through and find its place on the market. Whether iMetrik could succeed at that is a question yet to find its answer.
