Valley Forge Composite Technologies, Inc. (OTC:VLYF) has been gradually going up the past two weeks or so. Yesterday VLYF closed up 17.39% at 81 cents per share with approximately 65.7 thousand shares traded.
The only news released in that time was the engagement of Hayden IR for the development and implementation of an investor relations program.[BANNER]
VLYF is engaged in a number of operations through wholly-owned subsidiaries, with virtually all of its revenues coming from the design and manufacture of attitude control instruments for small satellites.
For the quarter ended Sept. 30, 2011 VLYF reported $1.7 million in sales, $321 thousand gross profit and $423 thousand net loss. The company was short of cash with approximately $201 thousand, but still had about $1.2 million working capital.
It’s not quite clear what’s the reason for the price run. It may be just a bounce from recent lows, or it could be excitement over the investor relations program.