Since the beginning of the year, the shares of Moggle, Inc. (OTC:MMOG) are slowly rolling down despite the released by the company news and despite a stock promotion.
On Friday, MMOG lost additional 2.60% in value on a doubled average for the company trading volume.
After the huge rush during last November, looks like investors are not appreciating a further share price increase. At that time, the released by Moggle, Inc. closing of a private offering for aggregate proceeds of $2 million shot the share price up beyond the sacral psychological limit of $1.
MMOG announced that it will use the proceeds of the above financing for general corporate purposes and for the funding of its growth initiatives. Days after investor enthusiasm got cooled down, the meaning of millions changed.
Almost parallel to the above mentioned event was the disclosure of the company’s financial reports for the period from February 11, 2008 (the date of MMOG’s inception) to September 30, 2010. Looks like investors had the time to compare the figures. Against the above given raised millions, a net loss of $4,4 million since inception is standing in the company’s financials. In addition, Moggle, Inc. reports no revenues and only plans to introduce products to the marketplace over the next 12 months.
Maybe, this was the initial impetus for the share price to return back afterwards, slowly but with sure steps.[BANNER]
Last Wednesday, a stock promotional campaign came in to support a better performance for the shares. Looking at the company’s “promotional history”, it could be said that this is not a classical means to revive MMOG stock.
At present, three stock promoters are working hard to return investor confidence in MMOG. Thus far, though the disseminated virtually by one of the promoters virtual bold message that “MMOG Has The Potential To Break the $1 Mark”, the shares’ upward direction has not been appreciated by investors.
Maybe this week MMOG stock will show its growth potential, pushed by a stock promotion that leaves the company enough of opportunities to present the growth potential of its innovative products, hopefully as promised this year measured in real revenues and not in stock promotional budgets.
