While NavStar Technologies, Inc. (PINK:NVSR) enjoyed a fairly good chart run two weeks ago, its market performance for the last few sessions has not been as impressive, especially considering the 35% flop last Wednesday.
NVSR closed last week’s trade at $0.15, down 6.25% from its Thursday close on a volume of 378 thousand, nearly twice as much as the daily average trading volume of 191 thousand. This result came hard on the heels of an official announcement in which NVSR revealed it had identified the machine-to-machine market segment as a lucrative niche for its proprietary wireless/GPS hardware and services platform. Three days earlier, NVSR also revealed it would resort to leverage techniques in order to provide customers with “an ultra-low cost” hardware platform designed to track down high-value cargo and other assets.
Apart from the updates mentioned above, third parties launched a new promotion in favour of NVSR last night. For the purpose, a couple of promotional emails worth a total of $38 thousand quickly reached traders’ mailboxes on Sunday evening to create awareness about NVSR in the forthcoming session.
According to NVSR’s latest financial records, the company’s condition a/o Sept. 30, 2011 is determined by:
- $37,781 in cash and equivalents;
- $129,278 in assets vs. $972,251 in liabilities;
- cumulative development-stage deficit of $16.8 million;
- zero revenue and a net loss in excess of $1 million.
