After plunging to as low as $0.2 on March 14, Agora Holdings Inc (OTCMKTS:AGHI) managed to found some ground and recouped its losses in successive trading sessions. But again that rally seems to be fizzled out with the stock moving close to $0.2 mark. In last trading session, the share price of Agora declined more than 17% to close the day at $0.215.
Dismal financials
In February, Agora Holdings did release numerous promising press releases. The problem is that news alone cannot boost the share price for long. Moreover, the market capitalization of around $37 million appears to be far stretched for the financials of the firm to support. For 3Q2015, Agora reported $0 in cash and $4982 in total assets. The net loss came at $117,000 while total liabilities were $248,000.
Despite being in an extremely depressing financial state in January, Agora decided to compensate $25,000 to Quality Stocks for over four months of advertising, marketing, branding, social media, and investor relations services.
The buzz
Quality Stocks is not the only entity trying to generate buzz around Agora. There is also a paid promotion that has been touting its stock for quite a while now. The landing page that was set up as part of this campaign has been removed and the minimal compensations revealed by the circulars alerts that the campaign is close to end.
Even if Agora stock is left to trade in absence of any campaign, the risks will continue to be significant. At the end of last September, the company reported nearly $138,000 in due convertible notes that permitted their owners to convert them into common shares at a price of $0.002. This conversion picture will get clear once the company releases its annual report for FY2015 at the end of this month.
