On the forth press release after filing the quarter financial results, LFBG stock accumulated not only significant one-day value, but also unseen over the last three years 404,000,000 million share volume. The share price flew up during the day, but closed at $0.0013, providing still a notable 8.13% gain from the previous close.
Yesterday’s announcement said that LFBG’s video games will be sold by a famous retailer chain, starting end of this month. This might sound like real good news, but the effect on the stock is highly questionable, not only because the previous PR that again concerned the revenues of LFBG provided only a one-day surge in the share price.
The company’s projections to report revenues for the current quarter higher than the revenues for the last fiscal year may easily remain just a dream, which can hardly cause long term gains for LFBG stock price that already reflects too exaggerated expectations for LFBG’s future sales.
LFBG revenues have even declined to $56,000 during the six months ended this June as compared to $73,000 for the previous six months, looking even tinier in comparison with the over $1.8 million costs incurred only this year. Cash is disappearing at full speed and only $47,000 were left in the back at the end of June. The more severe problem, however, is that the minor sales have led to large debts. They amounted almost $2.5 million for the first half of the year, $2.1 million of that amount being owed because the company was unable to pay to its partners and suppliers for the products and services provided.
Management plan to raise investment capital and keep the obviously unprofitable business running is limited to the stock market. Correspondingly, at the end of August the company announced and filed its intentions to increase its authorized common stock from 3 billion to 5 billion issuable shares.
