Shares of Alphatrade.com (OTCBB: APTD) were up more than 60 percent from Monday’s closing price in afternoon trading on Tuesday. Over the past few weeks, Alphatrade has been featured in several penny stock newsletters, most of which have touted the company as “setting itself up for what looks like a major breakout.”
Most recently, Alphatrade issued a press release announcing that the company was “pleased” with its cash flow positive position.
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“Our growth can be described as proficient, we offer cost effective solutions to both corporate and retail users. In addition, it is our goal in these tough economic times, to offer dollar-for-dollar the best product in the market.” stated CEO Gordon Muir in a statement.
Alphatrade’s revenues for the three months ended March 31, 2010 were $892,395, 49 percent lower than the $1,751,146 in revenue the company reported for the same period in 2009. The sharp drop was largely due to a 74 percent decline in advertising revenue, which shrunk to $263,001 in the quarter from $1,045,846 in the same period a year ago.
Despite the drop in revenue, Alphatrade managed to swing to a profit of of $62,692 for the three months ended March 31, 2010 compared to a loss of ($310,179) for the three months ended March 31, 2009. The company also saw a 69 percent increase in revenue from sales of its E-Trax tool and web site development programs. Revenue from these products was $88,496 during the quarter ended March 31, 2010 compared to $52,442 for the same period in 2009.
According to a recent press release, Alphatrade.com is preparing to report “a positive 2nd Quarter cash flow subsequent to positive 1st Quarter cash flow reported earlier this year.”
AlphaTrade was incorporated in 1998 and currently has 16 employees committed to sales, marketing, customer service, programming, coding and general administration.