increased by 867 thousand shares traded. That’s a pretty strange progress of MMOG, considering the fact that its average volume is only 44 thousand shares.Now the question is what’s behind the unexplained price jump and the huge volume? At this point, no reasonable explanation on the up move can be found.
Moggle has not published any news on its business since end-August and there is no information on its present activities. The last announcement concerning the company reported a change in its Board of Directors and a new CFO. After that, no more news has been published and the sudden climb raised many questions.[BANNER]
Moggle, Inc. is a development-stage company, which seeks to develop an online game platform allowing Internet users to play massive multi-player online games through their Web browser without the need to download any software.
As the company is in development stage, it is “dependent upon future events, including obtaining adequate financing to fulfill its development activities and achieving a level of sales adequate to support the Company’s cost structure”. However, the management points out that there can be no assurances that MMOG “will be able to secure additional equity investment or achieve an adequate sales level”.
Besides, since its inception Moggle has accumulated significant losses and experienced negative cash flows from operations, which raise substantial doubt about the company’s ability to continue operations.
