Last Friday O2 Secure Wireless Inc (PINK:OTOW) made some iHub posters think that ‘things are starting to cook here again’. Without much ado, OTOW stock gained 19%, closing at a two-month high of $0.119 per share.
As far as the volume is concerned, it registered a much more significant spike with 9.7 million OTOW shares changing hands by the end of the session, marking a considerable improvement over the daily average trading volume of 2.11 million.
From a promotional perspective, OTOW has not enjoyed the services of paid advertisers since mid-February. The company appears to have been more consistent regarding its PR policy. Its latest update wasn’t exactly a press release. Dating from May 13, in it the company informed investors it had filed some recent financials. The document in question covered a quarterly report for the period ended Dec. 31, 2010. Back then, OTWO’s balance sheet showed:
- $22K in current assets;
- $10.9 million in goodwill;
- $876 thousand in current liabilities;
- a net loss of $54 thousand.
In general, O2 Secure Wireless Inc pretends to be specializing in providing wireless Internet products such as Wi-Fi, mobile and consulting services. Although the company envisages expanding in the foreseeable future, its financial state might pose some significant challenges in the meantime.
