IVOI posted another positive close today with most of the trading action on the buy side. The stock briefly hit $.0006 before settling and closing at $.0005. The trading has been orderly and steady, which should equate to a healthy run as the stock continues to trend higher.
Today IVOI released their annual report after hours. This report should provide more fuel for this rally. The company has reduced their debt, in the past year, from close to $7 million to $1.5 million. During this same period of significant debt reduction they post a profit! It gets better from there. For the very first time, they have more assets than liabilities to the tune of $600k. Factor in the annual profit and you have a company that has finally turned the corner.
They eliminated $5.5 million in debt, are profitable, and the stock is starting to gain momentum in the investment community. I think today's 10K filing validates the recent trend higher in the stock. At this point there is not telling how much higher it will climb. I do believe IVOI should see $.0009/.0010 short term. I still think investors are missing out on this one and will chase as the stock goes higher.
I am still waiting for the SEC reporting, profitable company trading under $.001 a share. IVOI is the only one. I will expand the "Stump the Guru" proposal to include $.002 and less stocks. Find me a profitable for the year 2009, SEC reporting stock, trading under $.002 and you will get a free month subscription to the Penny Stock Guru.
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