its traded volume rose over 9 million shares for the day.There’s been plenty of news about Trycera over the past days. This week, the company filed its quarterly report and announced a licensing agreement with Simply Budgets, which allows Trycera prepaid cardholders access to card-based money management services. Besides, yesterday the company reported it has teamed up with GlobeWired to partner on strategic marketing campaigns.
Although the news was positive, TRYF shareholders weren’t encouraged enough to push up the stock price.[BANNER]
Trycera Financial, Inc. is a financial services company specializing in the delivery of prepaid card programs, prepaid card program management, alternative credit products and bill payment reporting. In August 2009, the company changed its status from shell company to operating company.
According to its recent financial report, Trycera’s total assets are about $320 thousand, while its liabilities exceed $1.6 million. The company has incurred huge losses and its accumulated deficit totals approximately $7.8 million.
Judging by the numbers, TRYF doesn’t have sufficient cash to cover the losses, though the management team is optimistic about the future and expects “gross profit margins and the losses to ease when 2011 is compared to 2010”.
However, they claim that the company “is dependent upon financing to continue operations” due to its recurring operating losses since inception. According to its 10-Q report, Trycera has minimal cash on hand and few material assets, meaning that “the Company may be unable to continue in existence should immediate and short term financing options not be available”.
