Yesterday, the session closed at $0.55 per share. A 34% increase for the day with 35k shares exchanging hands. So, a question might pop up – is this the end of the steady decline, could it be that a reverse is underway like in May, or back in December? Maybe, maybe not. It all depends on what drives the price up and down.
In this case, in this positive Thursday, it is promotional power that pushed the price up. Two promotions came out – both in the morning, having the same information included, with 12 500 restricted shares paid for the services of the promoter. Not for a one-day campaign, this is the price per month. So, more newsletters could come throughout August. Yet, so far just a promotion, not backed up by a press release or objective financial data.
In terms of financials, it is yet to see what the second quarter was for America West Resources. The first one comes down to the figures below, taken from the 10-Q for that period:
- $280k in cash; [BANNER]
- $2.4 million in total current assets;
- $19.1 million in total current liabilities;
- $45.6 million in accumulated deficit;
- $3.4 million in revenue;
- $6.5 million in net loss;
Not the most inspiring results out there. In terms, if similar data is presented in the 10-Q to come soon, it is uncertain whether a real reverse of the negative price trend is possible, or if it has just been a single positive session, inspired by promotional activities.
