Yesterday the market performance of Intelligent Living Corp. (OTC:ILVC) was helped by a press release and a paid promotion which resulted in a volume high.
ILVC closed up 30% at $0.13. The volume was actually just 216 thousand shares, but it was in fact a high, and if the number of outstanding common stock hasn’t changed after the reverse split from January, this would represent more than 25% of the outstanding stock.[BANNER]
The two major catalysts for the active session were the press release and the paid pump. The announcement concerned the completion of a project in Shaughnessy, Vancouver. Back on March 23, the company had issued another press release about the completion of a project in Vancouver’s Southlands community. It didn’t have a significant impact on the market.
It seems likely yesterday’s performance was mostly due to the paid pump. The promoter disclosed a $5 thousand compensation, paid by a third party shareholder, BlackHawkCapital, Inc.
None of the press releases contained any details about the financial significance of the completed projects. The latest financial report of ILVC showed the company was still unable to turn a profit, and revenues were slightly down on an yearly basis.
