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Monday, November 26. 2007

Update: MRM Company Increases Losses based on Geography

Tracking
Things are getting worse. The company announced plans to drop 23% of its employees and a few days later the CFO resigned. The stock, which had a high of $32 in 2000 has a 52 week high of 24 cents. This week it dropped to 7.5 cents on the Toronto exchange.

- The Star

--- original post 11/14 ----

Mobile Resource Managment provider AirIQ is being hit by geography. It's based in Canada where the dollar is rising and thus its once not so small debt is much bigger - $3.4M this past quarter from $1.2M a year ago.

To fix things some execs may go. Most of its clients are in the U.S. - 95%.

- The Canadian Press
Posted by Adena Schutzberg in Tracking at 06:00 | Comment (1)

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The suggestion that AirIQ shares had a high of $32 is, I think, a tad misleading. AirIQ merged with a publicly traded company in 2000 or 2001, and thus became a publicly traded company. During the first year after the merger, shares were trading in the 35 cent range. I haven't followed the stock too closely, but I don't think the stock price ever topped a dollar.
#1 Nathalie Warmerdam on 2007-11-26 10:53 (Reply)

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