Take a look at that: It is similar to ADNN situation, but the company is giving an answer. Trades in this company are like the ones done in ADNN.
"MicroTrak GPS' (PINKSHEETS: MIOK) CEO, Jerry Grisaffi, expressed concern today about price action in its stock which apparently occurred in very thin volume during the closing minutes of trading on July 30, 2007. The company's shares had been noted trading steadily at 8 to 9 cents per share, during the last two hours, prior to the close. Earlier in the day the company released what it considered a positive press notice that its products would participate in trade shows across five cities in China, during September 2007, that are traditionally widely attended by Chinese investors. During the final 30 minutes of trading a series of 10,000 share size blocks traded at intervals of several minutes, which is typical for its stock on a light trading day. In the last few minutes of trading, there was a trade for 7000 shares at 7 cents. This trade was followed by a single 200 share trade at 1 cent a share and immediately followed by a transaction for 3000 shares back up at 7 cents per share. No shares traded at any price intervals between 1 and 7 cents either on the price movement down or back up. The closing price of 3 cents a share was apparently negatively affected by these last two trades before the close. The company notes that the trade for 200 shares at 1 cent represents just $2 of total value.
During the previous week, MicroTrakGPS filed with Pinksheets current through June 30, 2007 its previously unpublished quarterly and annual financial reports. These reports are required by the Pinksheets to be eligible to be quoted on their new OTCIQ quotation service. In addition, the company voluntarily filed an updated Company Information and Disclosure Statement, containing information normally filed in an NASD Form 211, current thru June 30, 2007.
MicroTrakGPS wants to assure investors that no negative single event, that the company is aware of, occurred on July 30, 2007, which would account for the sudden drop and rebound in its stock price. The company is firmly committed to preserving and increasing shareholder equity, and is updating and improving the timeliness and completeness of its financial disclosures to the public precisely for the purpose of attracting more market makers and greater liquidity for its securities."
