UVFT was promoted and it cut off the negative price changes, however, the stock couldn’t move higher.Last week, UVFT had another and this time successful promotion, though the stock price fell down shortly after that. Apparently, UV Technologies try their best to push up their stock, however, the promotions don’t work for long.
The company filed its last news on Nov 16, announcing it was expanding its focus within the Hospitality industry and directing the efforts to provide its UV-400 air quality solution to the target restaurant and spa sectors. However, despite the positive news UVFT stock price didn’t move up.[BANNER]
UV Flu Technologies, Inc., formerly Northwest Chariots Incorporated, is a development-stage company engaged in the business of renting and selling electrically powered human transporters, like electric bicycles, chariots and quads.
According to the records, the stock price has been quite uncertain over the past month, held mostly by promotions and good news. Today, further news have just come up, reporting that the company’s product ViraTech UV-400 was selected as product of choice by the National Clean Air Foundation. Now, the question is will UVFT start to climb again?
Meanwhile, according to its quarterly results UV Technologies has generated shockingly small revenues, while its operating loss has been constantly increasing. As of end-June, UVFT has working capital deficiency of over $406 thousand and 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”.
Judging by these facts, the company can only hope that its positive press releases and promotions will help the stock survive.
