LaPolla Industries, Inc. (OTC:LPAD) Sinks 14% Following a Week of Stable Trade
After a string of sessions in which the stock of LaPolla Industries, Inc. (OTC:LPAD) did not change a whit, yesterday's trade finally made a difference. A negative one. Yesterday, LPAD stock went down 14%, ultimately closing the session at $0.6699 per share. The decline occurred on a fairly moderate volume of 80 thousand, which is well below Wednesday's volume of 107K, as well as way higher than the daily average trading volume of 12 thousand. LPAD is by no means among the most prolific PR providers in pennystockland. Neither is its stock a promotional favourite. A brief reference to our promotional database reveals that LPAD stock has yet to awaken third parties' interest in this respect. Occupying the specialty chemicals industry, LPAD specializes in manufacturing foam and coatings for commercial, industrial and residential applications in both the United States and Canada. Headquartered in Houston, TX, the company was founded in 1977. While LPAD has not issued any official news releases since early May, it has remained a transparent financial information provider. Moreover, the company is a regular SEC filer, hence its OTCQB status. According to its latest 10-Q form, which covers Q1 of 2011, LPAD's unaudited balance sheet indicated the following figures as of Mar. 31, 2011: zero cash; $17.5 million in current assets, all of them comprised by net trade receivables, inventories and prepaid expenses; $12 million in current liabilities; $17.9 million in sales revenue vs. $13.4 million for Q4 of 2010; net loss of $448K as opposed to net income of $168K in the previous quarter.
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