First in December, then in March, then in May – revenues keep rising in all press releases of My Freightworld Technologies Inc.(PINK:MYFT). Yet, it is still labeled as an “OTC PINK Limited Information” and there is a good reason for this, one that should not go overlooked. 
It is a known fact – when MYFT announces the coming millions in revenues, the reaction on the market is dramatic. It worked yesterday as well. Another announcement about the projected revenues for 2011 came up, making up for more than 7 million shares exchanging hands and a price increase of 12%, the session closing at $0.031 per share. According to the information in this latest PR, the gross effect from a recent agreement with another company, coupled with the current client base, increases currant annualized managed revenues to $268 million. Nice data for a pink sheet, but it might also be a good idea to check the past financial data rather than focus only on projected numbers. The annual report for 2010, although unaudited, is a good point to start. It includes figures like:
- gross revenues $11 million;
- net loss of $427k;
- total current assets of $1 million;
- total current liabilities of $3.4 million; [BANNER]
Apparently, this is one company to keep an eye on. After all, not every enterprise increases revenues from $11 to $260 million in 12 months. Actually, the first quarter of the year is already over and there is a balance sheet for it as well. Among other figures, it includes revenues for the period in the amount of a little over $3 million. On one hand – 15% more than for the same period in 2010. On the other, it seems that for the next balance sheets to reflect the press releases, the company must end each quarter with not less than $85 millions in revenues. So the quarterly statements to come would be very interesting.
In the meantime, given the hypes on the stock market that take place every now and then, there are possibilities for skilled investors to make a move. This company is no stranger to 100% increases in the stock price in a matter of hours or a day. On the other hand, it also used to trade at $0.2 before the sharp drop in the beginning of 2010. So, the element of uncertainty is also to be kept in mind when considering an investment in MYFT.
