Propell Corp (OTC:PROP) was promoted yesterday, yet again. The on-demand e-commerce company has been featured in numerous promotions, which for the time being haven’t managed to do much more than produce 1-2 day spikes.
As usual, the promotion was accompanied by a press release by PROP. Yesterday’s performance is summed up in a 21.9% gain on 837 thousand shares – significantly higher than the average. PROP closed at $0.128.[BANNER]
The compensation for the current promotion was $25 thousand, and the announcement was about how the Collaborative Arts Middle School in the Springfield Gardens section of Queens, used PROP’s newest service, the Event Savings Program.
ESP allows school partners to offer student or team uniforms at reduced quantity pricing, and each student or family to purchase individual items online.
This can be exciting, provided it works better than the previous ideas of PROP. The results in the latest 10-Q are not really better than the previous one. Sales are up, but so are losses. Additionally, the company is running out of cash and the $65 thousand total assets pale in comparison with the $3.2 million liabilities.
The promoters claim yesterday’s move doesn’t seem to be isolated, however, in order for PROP to get a more stable sustained gain it will probably have to produce some kind of a profit.
