ATVROCKN (OTCBB:ATVK) Logs a High-Volume Session
After months of barely any activity and tiny daily volumes, yesterday the stock of ATVROCKN (OTCBB:ATVK) traded more shares than it did for the full past month. As 110 thousand ATVK shares changed hands, the company’s share price slid 17%, wiping Tuesday’s gains and stopping at $1.95 per share.
The company’s appearance among the biggest dollar volume movers on the OTC yesterday was a bit of a surprise. ATVK was all but forgotten for months on end, very rarely breaking 10 thousand shares in daily volume over the past 40 days and primarily logging zero-volume days before that. This could be due to the fact that ATVK is not too keep about keeping investors up to date on its affairs.
The company’s annual report became due on Aug 31 but it has been delayed with a NT 10-K with another 15 days. The company is keeping a very low online profile with a Facebook page that was last updated in 2012 and a website that simply fails to load anything and displays a blank page.
On Aug 19 ATVK announced it had begun “discussions” for a merger with a private company called Lush Lighting – a producer of indoor LED grow lights. There has not yet been a followup on the discussion announcement, so the outcome is unclear.
Here is what ATVK had to show on its books as of its last report for the three months ended February 2015:
- ZERO in cash and current assets
- $56 thousand in current liabilities
- ZERO in quarterly revenues
- $2.5 thousand in operating loss
Those dismal figures, combined with the lack of any real news updates from the company, may explain why ATVK was barely trading. The thin volumes in turn brought great volatility to the stock’s price. In August ATVK went up 58% on 2,472 shares traded, only to crash 37% on 7,100 shares traded a few sessions later.
