Congratulations for seeing technical evidence for an explosion in a stock that has traded flat on low volume for a month - could you be a bit more precise?
While we ponder the technicals, have a look at the fundamentals too - sec.yahoo.com has tidbits like this one:
"The Company has earned no revenues and has incurred recurring losses. At December 31, 1997 the Company's accumulated deficit was $6,303,879. The deficit increased by $1,947,132 to $8,251,011 during the first nine months of 1998, due primarily to the net loss for the period of $1,534,714 and $412,418 in costs associated with the issuance and conversion of the Convertible Debentures.
Between May and July 1998, holders of the Convertible Debentures elected to convert $2,750,000 principal amount of the Convertible Debentures and accrued interest. On August 28, 1998, the Company used $2,550,938 of the proceeds from the initial issuance of the Convertible Debentures to redeem the remaining $2,250,000 principal amount (plus interest) of the Convertible Debentures. Although this redemption resulted in a substantial decrease in the Company's working capital, the Company believes that, because of the apparent downward pressure the existence of the Convertible Debentures was placing on the price of the Common Shares, the Company's long-term ability to raise money for working and expansion capital was enhanced by the redemption of the Convertible Debentures." |
