After SMA Alliance, Inc. (PINK:SMAA) published its financial report on May 15, the price and volume started going up, and today a promotion will kick in too.
The company hasn’t issued any press releases since May 9, but it seems the quarterly report was enough to get SMAA a close up 61.18% at $0.137 on Friday. The volume reached 1.7 million.[BANNER]
Today’s performance could easily be affected by the $60 thousand pump. A third party, Mercantile Ascendency, paid the above amount for a public awareness marketing campaign.
The report showed SMAA lost approximately $180 thousand for the first quarter of 2012, which is better than the $264 thousand loss for the last quarter of 2011. However, the revenues were significantly lower too.
Promotions often have a negative effect on the price, and SMAA’s market cap at this price is about $34.6 million. The company may have to provide a more solid business performance to support such a valuation.
