The share price of SatMAX Corp. (PINK:SATM) has been rising strongly up since the beginning of September, but yesterday it set a new resistance for the past six months on the highest trading volume for the past year. The company is not providing current material information, which makes the recent gains look speculative. 
The session closed with a 20.91% jump in the share price at $0.04 for a share. Over 1.1 million shares were traded during the session, which is almost 11 times higher than the daily average and is also the heaviest trading volume for the past twelve months. The chart shows also that SATM went above $0.0425 yesterday, and looks thus close to the 52-week high of $0.05.
That has been, of course, noticed by several stock promoters and they immediately put SATM as a volume alert in their newsletters yesterday evening, which could attract more volume today. The promoters also mentioned the news issued by the company yesterday – namely the two press releases that came out.
The one from the early morning announced that the company has completed its name change, has appointed new directors and has taken control over the Alberta based renewable energy project assets. Later, a minute after market close, SATM said in another PR that it has also determined potential revenue sources from the project and would release some revenue projections very soon.
Even though SATM chart, together with its future press releases and alerts, might promise further increase in the share price of the stock, it should be considered that the company is not registered with the SEC and its latest 10-Q is for the first three months of the year.
The previous business of STAM was to provide wireless communications equipment, the results of which seem rather disastrous: at the end of March 2011 the company had $45,644 in cash, $306,135 in total current assets and long-debt for over $4.2 million. SATM reports also zero revenue and zero operating expenses for that quarter.
