Despite relying on celebrities to popularize its novel product, Atlas Therapeutics Corp. (OTC:ATTH) has been on a steady decline for the last six months as far as its stock value is concerned.
The last two sessions, however, made a notable exception. Shortly after ATTH hit a six-month low of $0.1143 on Monday, it quickly rallied by gaining 33% to $0.15 per share on a volume of 153 thousand, the company’s highest trading volume since early-August. The surge continued yesterday, as well. This time, ATTH went up 13% to close the session at $0.17, shifting less than 100 thousand shares.
While ATTH’s chart run yesterday was backed up by a five-thousand-dollar promotion, the odds have been raised considerably for the upcoming market session. According to the promotional email which reached our database a couple of hours after the end of the last session, a third party has paid up to $40 thousand for a two-day campaign in support of ATTH stock. The only problem of the promotional effort is that it is entirely based on already known facts about the company which did not have any significant impact on the value of ATTH stock at the time they surfaced.
Two weeks ago, ATTH brought to light its third 10-Q report for 2011. The document which covered the three month period ended Sep. 30 showed:
- $45K in cash;
- $904K in current assets vs. $928K in current liabilities;
- $56K in revenue – the first generated revenue ever;
- net income of $1.85, which is solely due to a decrease in the fair value of warrants to the amount of $3.27 million.
For the time being, ATTH does have a novel product on the shelves. What is more, it sells it not only through its corporate website, but also via world-class distributors such as Amazon. Nevertheless, the company has yet to make a breakthrough on the charts. The last two sessions could form a nice first step as long as ATTH continues to gather momentum, be it with or without promotional support.
