Yesterday, Lyris, Inc. (OTC:LYRI) took a breath of fresh air after it went up 15% closing the session at $0.115 per share. However, it was the volume that really made a difference for the company as far as its chart performance for the last 12 months is concerned.
Shifting 1.98 million shares, LYRI stock registered not only a six-month volume record, but also its second highest turnover for the last 52 weeks. Until last week, LYRI had been churning out one update after another. Yet, none of them generated a volume spike of such a scale. Nor did any significant price movement take place because of them. That is why, the real driving force behind what LYRI did yesterday has yet to surface.
Defining itself as ‘the global digital marketing expert’, Lyris, Inc. specializes in providing a mix of technology and industry knowledge in order to give businesses a hand in improving their email marketing campaigns. At present, the company disposes of two proprietary email marketing platforms which provide both in-the-cloud and on-premises solutions.
In terms of financials, LYRI’s state is far from safe and sound. The company’s cash reserves have been melting away on an annual basis – from $619 thousand a/of June, 2009 to $244 thousand in June, 2011. What is more, the last four quarters have all finished with an average net loss of approx. $1.7 million. So, if you hold a stake in LYRI, do not expect any dividend in the foreseeable future.
