Amarium Technologies, Inc. (OTCMKTS:AMMG) Falters
It seems that prices above half a dollar per share may be a bit too much for the stock of Amarium Technologies, Inc. (OTCMKTS:AMMG). Yesterday they slid down from opening at $0.57 to close at $0.53. Despite the drop the company is still nearly 3% up compared to the previous close and it managed to recover from a low of $0.46. Volume remained significant reaching 1.5 million, more than 5 times the average amount.
Investors decided to cash in despite the new announcement AMMG made early in the morning before market opened. In it they report receiving the first payment of $4.5 million from Anglo-Asia Resource Partners, a Hong Kong based partnership, according to the terms of their Copper Stream Agreement. AMMG could definitely use the fresh influx of funds because according to the financial report for the second quarter of 2013 they had:
- $451 thousand cash and total current assets
- $932 thousand total current liabilities
- ZERO revenues
- $100 thousand net loss
Not to mention the accumulated deficit of more than $5 million and the possible further dilution of their common stock currently sitting at 480 million out of the 600 million authorized.
For now AMMG has had a landing page created for them by StockPicks for the sum of $25 thousand. It became public right before AMMG started active trading on August 19. In turn StockPicks gave $10 thousand to the website Invests.com to feature two articles advertising the stock of Amarium. The last alert emails touting the company date back to June 5 and were sent by Otc Picks, a newsletter that has been dormant ever since.
The start of the week was much more positive for the shareholders of Globalstar, Inc. (OTCMKTS:GSAT) who surged upwards by 28% to close at $0.84. Nuvilex Inc (OTCMKTS:NVLX) also enjoyed a big boost after David Cohen joined the pump campaign.