Speedemissions Inc. (SPMI)

[Lazarus]

I've noted the selling here but also the substantial sized bid that absorbed the shares.

I thought it rather odd that no one mentioned this News Release:

NEWS

Speedemissions, Inc. Announces First Quarter 2018 Financial Results
ATLANTA, June 04, 2018 (GLOBE NEWSWIRE) -- Speedemissions, Inc. (OTCPK:SPMI) (the “Company”), a national retail brand offering consumers automobile emissions testing and safety inspections, as well as the owner/operator of Auto Recycling of Montgomery today announced its Unaudited Financial results for the quarter ended March 31, 2018.

“The operation of our business continues to improve,” stated Rich Parlontieri, Speedemissions President and CEO. “In addition, Auto Recycling of Montgomery is now steadily increasing its salvage vehicle inventory, thereby adding more salvaged OEM parts for sale. Another plus is that a few select salvaged title vehicles are being rebuilt for sell in the used car market. We expect this secondary sales channel to accelerate revenue and net profit,” added Parlontieri.

2018 First Quarter Unaudited Financial Highlights

For the period ended March 31, 2018 total revenue decreased from $897,411 to $879,600 or ($17,811) a 2% drop, as compared to 2017 first quarter revenues. However, this decline in revenue is attributed solely to the loss of the lease of the Salt Lake City store. Overall same store sales increased $21,708 or 2.6%, with Atlanta up 2.4% and St. Louis up 4.9%.
Both store operating expenses at $19,000 (3.7%), and general & administrative expenses at $57,000 (27.8%) were down versus Q1 of 2017. This is due to a reduction in legal, accounting, professional fees and salary expenses.
Net profit for the quarter was $30,166, as compared to $244,807 for the same period ended March 31, 2017. This net profit adjustment was because of the gain on the disposal of non-strategic assets from the Utah store closing and the de-recognition of aged accounts payable for Q1 of 2017.
Current liabilities have continued downward and declined $142,409 (11.1%) to $1,282,003 from $1,424,412 versus March 31, 2017.