Tivus Inc (PINK:TIVU) stock price lost 17.22% and closed at $0.05 on Friday. Volume also subsided to 1.2 million, which was still way above the average of 440 thousand.
On Nov. 23 TIVU announced an agreement with Vestel Group. The agreement is supposed to secure a dependable supply of customized, top-quality high-definition televisions for TIVU. The news was reflected by a moderate rise in the volume(689 thousand) and price (7.69%) of the stock that day.
TIVU was promoted on Dec. 2, which was the apparent reason for the 9.82% rise in price and the volume, which reached 2.8 million. The promoter reported they were compensated $15 thousand for the promotion by a non-controlling third party shareholder. TIVU was also mentioned in a newsletter on Nov. 30, which had some effect – increasing volume above 2 million but the stock closed at the same price it opened.
Tivus, Inc. is a company that provides internet-based goods and services to hotels. They use on-site hardware and software and a customized website to offer hotel guests broadband connectivity to the Internet via a proprietary Network Operations Center.
TIVU hasn't filed any documents with the SEC since August 2008. The latest quarterly report available at the OTC Disclosure & News Service would suggest that TIVU has some considerable trouble financially. The total current assets of TIVU amount to $5.703 and the total current liabilities are staggering $932 thousand. The reported net loss for the quarter is $247 thousand.
It seems the financial state of the company is pretty dire with operations resulting in losses and depending on loans. The survival of TIVU is quite uncertain if they don't find some way to acquire additional funds and fast.