@ All ... check out this interesting report .....
By Ekaterina Zelenkova
Aug 05, 2011 Net Savings Link Inc (OTC:NSAV) Sinks On Stock Promotion And New SymbolAs pretty often happen, after the bursting stock promotion, Net Savings Link Inc (OTC:NSAV) is sinking apace.
Maybe, for some investor this is not an unpredictable performance of only yesterday traded under the stock symbol CXLT.
Shares' price collapsed, oppose to the optimistic company's release, announcing the new trading symbol of Net Savings Link Inc,. Over only one trading day, the new NSAV close the market at $0.093 with cut up value of 53.38%.
While the company's CEO, David Saltrelli, proudly stated: "This new symbol will more accurately reflect the Net Savings Link name, brand, and evolving business plan,", the price of company's shares swiftly rolled down in a trading volume exceeding more than fourteen times the three months average for the company.
It was the lesser evil. Yesterday, following the echo of the past few days ago stock promotion, the former CXLT entered the trading range of the lowest possible levels, known to stock holders. A down trend opened the inauguration of the new NSAV.
Last Saturday, another official opening was held, this of CXLT's stock promotion. It succeeded to speed up a stock stir. On Monday, CXLT sprang 64.88 % within trading sessions, although, the price of shares was not as high as it was during the stock promotion this spring. Unlikely, this was the only price sour of CXLT up to now. This week, the new NSAV lost 77% in value.
After the huge bang of CXLT, came the time of its massive sinking.
Perhaps, some investor succeeded to bank gains these days. Other investor, maybe, faced with the alternative to cut their grocery bills to compensate loses on the investment done in CXLT and not to save money, using services of Net Savings Link Inc.
Although, the euphoria around the stock promotion, the recently disclosed by Net Savings Link Inc changes in shell company status also added some conservative attitude towards NSAV. Though, the company advised the public that NSAV is no longer a “shell company”, the announced in the 8-K filing financial information looks also cooled the bullish mood of investor.
NSAV stated, that as at May 31, 2011 had total liabilities of $2.5M, cash balance of $563K and a working capital deficit of $1.9M.
In addition, only for the preceding year, Net Savings restructured two times company's capital. In August, NSAV made a 15:1 forward stock split of all issued and outstanding common shares. Few months later, in November, the company approved a 1.4:1 stock dividend of all issued and outstanding common shares of the company. Thus, the authorized capital stock of NSAV consists of 200,000,000 shares of common stock.
However, in the aforementioned report there are also some positive signals for investor. The company is operating in a filed which just have to present its potential in the forthcoming years. As well, as stated by NSAV: “the company commenced sales operations during the current fiscal year whereas, in the prior year, the company only had minimal activity.”.
