Shares of DiMi Telematics International Inc. (PINK: DIMI), a designer, developer and distributor of Machine-to-Machine (M2M) communications solutions, are down sharply in trading today.
At last check, DIMI shares were trading 4.35% lower at $0.0440 on above average volume of 5.76 million. Despite the losses in trading today, DIMI has gained more than 50% in the last three trading sessions. However, the stock is still down more than 97% in the last one month.
According to a filing made by DiMi Telematics last month, the company had cash and cash equivalents of $888,139 at the end of May 31, 2012. The company had a net working capital of $873,366 at the end of May 31, 2012.
In the filing DIMI said that in order to achieve accelerated market penetration and sustainable, recurring revenue from a global customer base, it expects to ultimately adopt a hybrid sales and marketing model.