The rise of Lifevantage Corp. (OTC:LFVN) share price towards the end of the trading session yesterday stopped again at a hard resistance level. In a press release early in the morning, LFVN announced the date on which it will come up its latest financial results, yet that did not seem like the reason for the share price increase. 
LFNV closed yesterday’s session at $1.60 for a share, gaining 5.26% from the previous close. Trading volume amounted 444,221 traded shares, which is much larger than the average for the past 30 days. From a technical point of view, another session with an increasing share price may follow today, but fundamentally the current level of the share price of LFVN stock looks risky – although the company reported increasing sales and operating income over four consecutive quarters it still had large convertible debts at the end of March this year.
Before market open yesterday, LFVN said that it would release its financial results for the fourth quarter and full year ended June 30, 2011 after the market closes next Wednesday. Thus, next week investors will know if the promised in previous PRs record revenue growth has actually taken place, or the company will have to explain why that did not happen as expected.
Earlier this month, LFVN also announced that its Board of Directors had approved a repurchase program for the company’s common stock. That allows LFVN to use up to $5 million to buy back on the market shares of its common stock over the twelve months beginning October 1, 2011, but the cash for such repurchases should not exceed 50% of the free cash flows of the company for each quarterly period.
