Sometimes, when you’re sitting in a timeout, the best way to attract some attention is to beat your chest and roar like a gorilla. It would appear MacroSolve Inc. (PINK:MCVE) is thinking along similar lines.
A paid pump of $125 thousand is trying to liven up MCVE stock. Shares were slow to trade yesterday with a total volume of about 35 thousand changing hands. The opening of the pumper campaign coincides with a press release from the company. The release announces that MCVE is suing the big boys once again and looks more like a sheer publicity move.
This time MCVE has taken on Target Corporation and the suit is for patent infringement, again. It feels like MCVE is particularly fond of duking it out with the big players, after having recently filed a number of lawsuits against giants such as JPMorgan Chase, all of them for patent infringement.
As previously covered here, pump attempts to move MCVE stock up have ended badly. Currently at a much lower point, hopes may be focused on a bounce which is not terribly likely to happen.
In a Q-10 filing the company states that in Q1 six investors converted debentures and warrants into 6.5 million common shares at approximately $0.05 per share. At this point and at yesterday’s closing price of $0.04, a surge in price would give them an opportunity to make some money.
A quick look at financial data from the Q-10 may give people more of an incentive to be cautious:
- Current cash assets: $ 324,628
- Total current liabilities: $ 849,830
- Net loss: $705,030
Investors may want to be extra careful before they ride the latest promotion. Traders should ask themselves whether another lawsuit which in the best case scenario will be settled out of court is enough of a reason to throw money at a company which is still unable to turn a dime of profit.
