Their PR's are worthless now until EFLN announces that it did indeed purchase 30% of INEX Solutions, Inc. See...all the hype and hoopla the past 4 months, have been over products owned by INEX; the background checker, the iPhone app. EFLN doesn't have any products or revenue.
INEX is a private corporation, owned by some of the management team of EFLN. INEX uses the same office as EFLN, but it's a totally separate company. The stock price appreciated this spring and early summer when EFLN announced they "were in the process" of buying 30% of INEX, since INEX has revenues and EFLN does not. Each new PR caused a jump in price as the market factored in that EFLN would get a share of that pie. However, without any confirmation, ever, that EFLN did indeed go through and purchase that 30%, and there is no record of it being done anywhere, any PR now that hypes the products of INEX means jack to EFLN.
The current situation is like two brothers in business. One (INEX), owns a hot dog stand, and is making money selling hot dogs. The other (ELFN), owns a lemonade stand right next to it, without lemonade. The lemonade stand is trying to sell stock to investors, so it announces it's going to buy part of the hot dog stand. Then the two brothers release news together about all the great stuff the hot dog stand sells. However, when it becomes obvious that the lemonade stand never did buy part of the hot dog stand, the investors bailed in droves.
For this stock to go pop as so many in here would like it to do...releasing a PR that states the INEX buy has finally been confirmed would get the price moving up again. I'd gladly buy back in if that happened.
