WordLogic Corporation (PINK:WLGC) is a company engaged in the development and commercialization of data entry software. The Vancouver-based company hasn’t managed to do too much besides losing money so far, however, a promoter seems to think that may change.
The promotion in question will kick in today. On Friday, WLGC was still recovering from the late filing notification for its Q2 report. A 13.33% gain brought WLGC back to a $0.17 close on 192 thousand shares. The late filing notification had the price drop from $0.17 to $0.13 on August 17.[BANNER]
As mentioned, today’s performance of WLGC will be helped by a paid promotion. The promoter discloses a $12,500 compensation. One of the focal points of the promotion is the PR issued by WLGC on Aug. 11 about its technology being available for licensing to manufacturers and software developers.
The fact is, however, the announcement in question didn’t get much of a reaction from the market. This shouldn’t come as much of a shock since the company has consistently been losing money – $19.3 million since inception. WLGC had $10 in total revenues for Q1 of 2011.
All in all, the financial situation of WLGC doesn’t really call for optimism. Perhaps, the new report may look a bit better, but there are no indications it will, and even if it does, it’s doubtful it will be something dramatically different.
