AvWorks Aviation Corp. (OTCMKTS:SPLI) Recovers Lost Value
The stock of AvWorks Aviation Corp. (OTCMKTS:SPLI) made a strong month of trading in February, as it climbed above the 1 cent per share mark and continued to ascend the charts to new heights after entering the e-cigarette industry.
As stated in several of our previous articles on SPLI most of the hype is generated by the fact that there have been hints, the company might repurpose the e-ciggaretes for use of medical cannabis, something we see from companies a lot these days.
Still, the company stock experienced some difficulties in the second half of the month and managed to drop from $0.075 to $0.05 per share in just three sessions. After the low, it began to climb again and we received some more optimistic news about the business outlook and the recent events on February 26.
We are anticipating a report that would show the financial state of the new company, because the numbers in the one covering the period ended September 30, 2013 weren’t promising.
- cash: $442
- current assets: $4,558
- total assets: $6,058
- total current liabilities: $268 thousand
- revenues: $0
- net loss: $21 thousand
This, however, didn’t stop the company stock from making a decent 20% jump in price yesterday, regaining its pre-drop price of $0.75 on average volume. Still, the 15.5 million shares that switched hands during the session managed to generate a good $1.1 million in trade value.
Currently we are expecting a name and symbol change for which the new management say they have filed the appropriate documents and they have also promised that they will update the financials of the company as soon as possible.
However, the e-cigarette market is flooded with manufacturers a lot of which have decided to branch out in the medical marijuana market. This is a good enough reason for you to not skip your due diligence and weigh out the risks, before deciding to invest.
Yesterday’s big surprise was Riverdale Oil & Gas Corp. (OTCMKTS:RVDO) whose stock jumped a mind-numbing 958% in price during the session. MyECheck, Inc. (OTCMKTS:MYEC) investors weren’t as fortunate as the ticker registered a second session in the red with a hefty 42% loss.
