Revolutionary Concepts, Inc. (OTCMKTS:REVO) Jumps On News
The stock of Revolutionary Concepts, Inc. (OTCMKTS:REVO) has been going through a tough period lately. The company is trying its best to push its price up with regular optimistic press releases and it seems to work out for a small period of time.
Yesterday, REVO got us up to date with their business plan, but for now everything is just a proposal and seems far-fetched, considering the financial situation in the company as per their quarterly report covering the period ended September 30, 2013.
- cash: 4,799
- total assets: $244 thousand
- current liabilities: $3.4 million
- revenue: $0
- net loss: $747 thousand
Still, it is uncertain whether the hopes that drove the massive 1000% climb in February after news about $30 million in revenues from the global licensing agreement that the REVO signed with an unknown entity will become reality.
The hype created by the estimates in the press release, however was short-lived and the stock made some serious corrections after gapping up more than 1 cent up on February 14. Currently REVO has lost a total of 58% from the peak value and doesn’t seem like it’s in a good shape.
If the estimates are correct, however, the company may indeed have the cash to retire its debt and liabilities and buy back some of its stock as per the proposals, but this is for time to tell. The proposed plan seems to have left an optimistic feeling in investors as the stock moved 28% up yesterday on a $576 thousand dollar volume.
Until we see some positive results and not only hopes, estimates and proposals, however, do proceed with caution and don’t forget to do your due diligence before you make a decision.
Minerco Resources, Inc. (OTCMKTS:MINE) also had a good session yesterday as it jumped 46% in price. Primco Management, Inc. (OTCBB:PMCM) was also fortunate, but has entered today’s market on a bad foot
