The two optimistic press releases that Raystream Inc. (OTC:RAYS) issued yesterday did not help the stock close with an increase in the share price. Long-term, the company is also yet to prove its potential. 
RAYS closed the last trading session with a 9.18% decline in the share price at $0.999. As around 1.73 million shares were traded during the day, the trading volume was below the average of 2.35 million for the past three months. It seems like a downtrend is forming for RAYS and press announcements alone would not be able to prevent it.
Yesterday, the first press release was more like a general statement on the skyrocketing demand for content delivery and high speed streaming services, and it finished with the information that RAYS had been covered in a report examining the technology sector. Later, a second PR occurred, announcing that RAYS were entering into a 30-day evaluation period with an Internet television site.
As both statements did not contain any concrete expected profits for RAYS, the lack of any positive reaction on the market is not a surprise. Moreover, the company’s current market cap of almost $50 million looks highly inflated for the fundamentals seen in the latest 10-Q.
It came out in the middle of December last year and showed that RAYS has not generated any revenue from its business so far, and that the largest part of its assets are intangible. As of end-October 2011, RAYS reported total assets of $9.54 million and $8 million of these assets represented goodwill.
