Shares of Propell Corp. (OTC: PROP), e-commerce and fulfillment provider of image-based personalized products and services, are fluctuating between gains and losses in trading today.
At last check, PROP shares were trading 10% lower at $0.0072 on above average volume of 4.21 million. The stock has gained 80% in the last three trading sessions despite today’s losses.
According to a 10Q filing made by Propell last month, the company’s net revenue fell 19% on a year-over-year basis in the three-month period ended March 31, 2012.
The filing showed that the PROP’s cost of goods increased 2%, while its gross margin fell from 28% to 9% in the quarter ended March 31, 2012. The decline was due to lower sales and PROP’s inability to raise prices to match the increased cost of materials.
Recent Comments