Glassesoff Inc (OTCBB:GLSO) Gathers More Momentum

Glassesoff Inc (OTCBB:GLSO) wasn’t off to the best of starts on Friday. The ticker opened the session at $2.39 (just under Thursday’s close) and started sliding almost immediately. A few minutes in, it hit an intraday low of $2.25 and although it regained some of the lost ground, it remained below its previous value over the following hours. During the last few minutes, however, it made a run and managed to finish the day nearly 4% in the green.

The trading volume wasn’t quite as big as the one seen on Thursday, but, at 175 thousand shares, it still managed to bring GLSO on the list of the most heavily traded OTC stocks. Perhaps more importantly, this was the third green session in a row which suggests that there is some strong upward momentum gathering around the company. The price currently stands at $2.49 per share but will it manage to remain there?

Unfortunately, we have some doubts. For one, the current price commands a market cap of over $132 million and that seems a bit of a stretch for a company that was private until a couple of weeks ago and that, according to its latest financial statement, has around $2.6 million in total assets and no revenue since inception.

Then we have the threat of promotional campaigns. GLSO certainly have an interesting business plan and the fact that the stock was virtually dormant until just a week ago means that the ticker could be considered a prime candidate for a pump. The restructuring steps that were taken back in the summer when the acquisition was completed also follow the pattern of a typical promotional stock.

We’ve yet to see any signs of an organized awareness campaign, but even so, being wary of all the risks could potentially save you some sleepless nights.

That said, although the usual pumpers seem pretty quiet, there are still some people that, willingly or not, are spreading the word around. As we mentioned in our previous article, GLSO‘s revolutionary iPhone app was featured in a coverage on Wall Street Journal’s online edition, some other websites have also taken a sneak peak at the technology and we have also seen quite a lot of coverage on Seeking Alpha (SA).

There have been a few SA articles on GLSO over the last couple of weeks and they were written by various contributors. Each and every one of them seems to be quite excited about throwing his reading glasses away which is somewhat understandable, but you should not to allow yourself to be swept away by the increasing optimism. The latest SA coverage came out in the early afternoon on Friday and it’s apparent that it did have an effect on the performance, but there will inevitably come a point when the pressure will simply get too much.

Not to mention the fact that, with a software application that costs $59 for four months and one that has been on the market for less than a week, predicting the future is nigh on impossible. That’s why doing a lot of due diligence and carefully considering all the risks is absolutely crucial.

IBSG International, Inc. (OTCMKTS:IBIN) is another OTC company that gathered a lot of attention during Friday’s session. They managed to jump up by no less than 35% despite the fact they haven’t filed any financial reports since 2008. International Isotopes Inc. (OTCBB:INIS), on the other hand, are current with their SEC filings, but despite this, and for no apparent reason, their share price slipped by no less than 34% and closed last week’s trading at $0.035 per share.