Provision Holding Inc (OTCMKTS:PVHO) Files Q1 Report
After a couple of months of climbing the charts we saw the stock of Provision Holding Inc (OTCMKTS:PVHO) reach a high of $0.4601 in the beginning of April, right before embarking on a downward slide that has cost it more than 50% of its value since then.
Meanwhile, the company has been doing fairly well when it comes to business. PVHO filed its financial report for the first quarter of the year yesterday and it contained the following numbers of prime interest in its balance sheet.
- cash: $2.01 million
- current assets: $3.97 million
- current liabilities: $7.97 million
- quarterly revenues: $2.02 million
- quarterly net loss: $913 thousand
Those numbers certainly set PVHO apart from most OTC marketplace traded companies. The good thing is that the revenues have increased significantly year-over-year. Still, the company doesn’t seem to be capable of holding a high market value.
The report for the first quarter of the year was filed in the afternoon and it didn’t affect the movement in the session. PVHO lost 21.43% of its value and dropped to 17 cents per share. A total of 670 thousand shares changed their owners and generated $127 thousand in daily dollar volume.
Things aren’t looking all that well in today’s session either. The company stock gapped down at 16 cents per share and managed to climb to $0.175, sitting 2.94% in the green as of the writing of this article.
