traded volume rose up to exceed 441 thousand shares, which is about seven times higher than the average volume for LMCO stock. It looks like something has happened with the stock and the investors’ attention has been caught.Following the historical data, we can see that the high trade has started on the day of a LMCO stock promotion. According to the records, five different companies had been compensated to promote the stock yesterday. And although it immediately climbed up, a new uptrend cannot be registered yet.[BANNER]
According to the recent information, Li-ion Motors has been promoted quite often during the last months and the promoters have received thick compensations. As a result, the stock price rose up occasionally, along with its traded volume. However, except for a couple of positive researches, Li-ion Motors has not released much news on its business recently, and obviously the promotions remain the only reasonable explanation on the current high trade.
Li-ion Motors Corp. develops electric powered vehicles and products. Following the chart, we notice that last year LMCO used to trade much higher and its price was about 50% higher. Though, since last August it moved down, until in March and April LMCO’s price crashed down to under $1. However, after being promoted, it rose up again.
The quarter results of Li-ion Motors don’t look satisfying at all. The company has generated $484 from sales and incurred a net loss of over $2 million for the nine months ended this April. Since its incorporation, LMCO has financed its operations mainly through sales of common stock and borrowings. In its latest financial report, the corporation expects this to continue.
According to the report, Li-ion Motors has borrowed $3 million under a loan agreement with Crystal Capital. Now, the company is due to make the interest payments on the loan. This year, LMCO has entered into a few more loan agreements and it has substantial obligations of $251 thousand to Internal Revenue Service.
Presently, Li-ion Motors has no sufficient capital to cover its operations and it anticipates that up to $5 million of additional working capital will be required over the next 12 months.
