Despite having been a subject of heavy promotion for the last two months, the market performance of the stock of Simulated Environment Concepts Inc. (PINK:SMEV) has been far from impressive. During yesterday's trading session, the price of SMEV stock did nothing spectacular, closing at $0.0023 per share. The turnover, on the other hand, marked a significant decrease over the day before as only 1 million shares changed hands.
The subpar market behaviour of SMEV stock could not be altered by the CEO's shareholder address that took place two weeks ago. Although it outlined a record-breaking performance of the company's SpaCapsule, as well as its firm intention to upgrade its OTC market status, it still dos not appear convincing enough to boost price and volume.
The company's latest Q3 report covering the period ended Sept. 30, 2010 shows:
While the current financial state of SMEV seems fairly fragile, the company actually has a final product - the so called SpaCapsule. Moreover, last year it signed an agreement with an European distributor for the sale of 250 units. The product has already been shipped to a number of countries. According to a lot of investors, all SMEV needs is an effective PR campaign in order to make it.
What does the future have in store for SMEV? If you ask CEO Ella Frenkel, the company is on its way to expansion and there is no turning back. At least till the next shareholder address scheduled for March 4.