On no news and even on no paid stock promotions, WikiLoan Inc. (OTC:WKLI) stock price is about to approach its yearly high these days, seven months after the last disclosed promotion for WKLI stock.WKLI.png

Over the last two weeks, WKLI’s direction of move is straight up and yesterday the share price gained another 6.77% on its way up to the 52-week high at $0.56. The stock reached $0.43 during the day, but as the trading volume is constantly increasing each day, a bullish pattern appears to be forming on the chart.

At the beginning of March this year, $500,000 were paid for the quite successful efforts to raise the trading volume and make the share price surge. Also at that time, some borrowers of the company that had provided financing in the form of convertible notes decided that there will be no better time to have their invested money back, through converting their notes into WKLI common shares.[BANNER]

Currently, WKLI stock is appreciating again in a stable manner, the only reasonable explanation for that being the financial report for the quarter ended July 2010. The first half of this year was one of the rarely met periods with revenues for WKLI, but that was all of the good news. The company has had a total of $2,453 in revenue since 2005, has large accumulated losses and minor $30,000 of cash on hand.WikilLoan.jpg

WKLI has an interesting business model, however, aiming at a market with high-growth potential on the current credit crunch. WKLI offers a website for peer-to-peer borrowing and lending. That allows people who need money, but will not get it from the bank because they have no collateral, or from their credit card because the interest rates are too high, to meet other people who have money in excess and would like to earn a reasonably higher interest than that of a normal cash deposit.

The company’s revenues come from general and administration fees for using the website, but the management has ambitious plans to expand the revenues sources. The future will show if the market actually believes in that kind of business, or some new paid stock promotions will get disclosed.