Propell Crop. (OTC:PROP) is an on-demand e-commerce company based in San Anselmo, California. Yesterday it was promoted by several newsletters and got a moderate gain.
PROP moved up 4.69% on 468 thousand shares. At the end of the session the price was $0.1675.[BANNER]
E-commerce has been performing very well recently and being positioned in that sector gives PROP some potential. This is one of the points the promoters make, however, the performance of PROP hasn’t been particularly impressive so far.
For the quarter ended Mar. 31, PROP reported:
- $21,905 in cash;
- $35,267 total current assets;
- $3 million total liabilities;
- $23,715 net revenues;
- $251,373 net loss.
On the other hand there has been almost no dilution in the last year. Additionally, if the company manages to take a more significant share of the market it could better its financial position.
For the time being, however, there doesn’t seem to be a particularly solid reason for that to happen, and at the current rate of spending PROP will have to use debt or equity financing to support its operations.
