and downs all the time.The same story is happening this month. After the numerous losses and a shocking gain, last Friday CXLT couldn’t hold the up move and started to fall down again. But the most impressive fact here, is that it is happening while the stock is being promoted and stuck in positive announcements.
In fact, CXLT has been heavily promoted throughout the whole March and as a result the stock price changes sharply all the time. The most recent campaign started yesterday and, as usual, the paying party remained unknown. Though, it is interesting if the promotions will cut off the downtrend this time.
According to the records, the previous campaign fueled up the stock price by over 77%, though the up move lasted just for a day. Actually, even the positive news by Calibert Explorations couldn’t support its stock, though being spread out regularly over the past days. Still, the new campaign is on and the results are about to be seen shortly.
The only fact known so far is that obviously good news is not enough to interest investors and the only thing left to pump up CXLT stock price is promotions.[BANNER]
In the meantime, the annual report of Calibert Explorations doesn’t look much better than the quarterly one. According to the 10-K, during the year ended November 30, 2010 the company did not generate any revenue related to operations. Instead, CXLT generated some other income derived from the exchange of debt for savings certificates and discount coupons. However, the company incurred much higher operating expenses, net loss and a working capital deficit, which remained unpaid due to the lack of debt or equity financing.
Judging by these facts, Calibert Explorations will need either an urgent additional financing, or a new plan to get profitable.
