increased by over 765 thousand shares.In fact, the volume of UVFT has been rising up progressively over the last days and apparently something has provoked investors’ interest.
One of the most reasonable explanations on the high trade must be the recent promotions of UVFT. According to the records, the stock has been promoted four times last week, which has pushed it up immediately.
Apart from the regular promotions, UV Flu released a series of positive news on its business, which has additionally pumped up the stock price. Obviously, the company wanted to ensure its market position and the PR strategy turned out to be successful.[BANNER]
UV Flu Technologies is a developer, manufacturer and distributor of bio technology products initially targeting the Indoor Air Quality industry sector. The company used to trade higher this summer, however, after that the stock entered into a downtrend. Last week, UVFT started the up move again, though on a number of press releases and promotions. According to UV Flu’s quarterly results, the company has generated shockingly small revenues, while its operating loss has been constantly increasing.
As of June 30 this year, UVFT had working capital deficiency of over $406 thousand and presently it relies on additional funds through equity or convertible debt financing to cover the losses. However, the management team claims that “Any attempt to raise funds, through debt or equity financing, would likely result in dilution to existing shareholders”.
Based on these financials, UV Flu should rely mostly on its new distributors to secure cash for funding the operations without affecting the shareholders that much.
