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By Martin Tsvetkov
Apr 13, 2011

Hi Score Corp. (HSCOD.PK) Soars 164% On NY Port Authorities Approval

HSCOD chart.pngIf you should go to iHub to have a look on the message board on Hi Score Corp. (PINK:HSCOD), you will see a warning which says: HSCO-HSCOD is a Multiple REVERSE SPLIT Offender. When we last covered HSCO in January, its stock had just hit a rock-bottom level of $0.0002 per share. That is why, the recent reverse stock split has hardly come as a surprise to investors.

Nevertheless, HSCOD made a quantum leap yesterday. Gaining 164%, it rallied to $0.0029 on a six-week high volume of 62.5 million, well above the daily average trading volume of 3.6 million. Since no promotional activities appear to be currently taking place, the only remaining driving force behind the spectacular surge is the corporate press release which popped up yesterday.

According to the news, one of HSCOD's holdings had now been granted official approval by the NY and NJ Port authorities, thus giving a vendor status to the holding known as DMD Lighting and Energy Control Systems. In this respect, DMD has now acquired the legal right to take part in local tenders each worth a six-digit sum.

Earlier this month, HSCOD boasted that it had won a couple of sales orders each evaluated at at least $100 thousand. As it turned out, the orders came from ..... the recently acquired DMD holding. The news suggests that the holding might actually prove to be the engine for the future positive development of Hi Score Corp. Yet, it is still unclear whether the company will shift its focus from eco-friendly lighting equipment to something that is commercially more viable.

Although the latest achievements made by DMD seem promising, HSCOD's capacity to deal with sales orders of such a scale remains under question given its financial state during Q3 of 2010. By Sep. 30, 2010, the company had incurred a nine-month net loss in excess of $525K. It did record a positive working capital of $115 thousand, yet, it still had not managed to turn at least a portion of its $160 thousand of accounts receivable into real assets. 

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