Implant Sciences Corp. (OTCQB: IMSC) continues to generate sales, but this good news is overshadowed by its substantial liabilities.
The Wilmington, Mass. security sensor seller's share value soared Sept. 22, with 1.3 million shares changing hands, more than three times its 30-day average volume of 321,997 shares.
The uptick in volume comes on the heels of Implant Sciences' recent announcement it has sold 12 QS-B220 desktop explosives and drugs trace detectors to Incheon International Airport Corporation, operator of Incheon International Airport, the largest airport in South Korea. Implant Sciences' ETDs will be deployed for airport security and will replace existing systems the airport had in place from a competitor.
While this is definitely good news, Implant s Sciences' latest 10-Q covering the time period ending Mar. 31 is less than impressive:
- Quarterly net loss: $4.9 million
- Quarterly revenue: $2.7 million
Cash on hand: $276,000
- Current assets: $4.7 million
- Current liabilities: $62 million
Considerable Debt
Also troubling some industry analysts is the fact that Implant Sciences' staggering liabilities are being funded in part by debt convertible into common stock. They warn that this could lead to a serious dilution issue somewhere down the road.
IMSC's stock value closed at $1.33, down 11 cents, or 7.57%, from its close of $1.44 the previous day.
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Medbox Plagued By Downturn in Marijuana Stocks
Medbox Inc. (OTCPINK Markets: MDBX) continues to report positive developments as its stock value continues to fall.
The Hollywood, Calif.-based maker of identity-verifying medical-marijuana dispensers had another lackluster trading day Sept. 22, with just 48,878 shares changing hands, which is less than its 3-day average volume of 51,923 shares.
Despite issuing a bevy of positive press releases, Medbox has watched helplessly as the value of its shares have lost more than half their value since June 23.
However, its latest sunshine blowing press release on it being granted a new patent makes no mention of how the company proposed to turnaround this ugly downward trend that is plaguing most marijuana-related penny stocks.
In a press release, Medbox contends its new patent will enable it to provide the following services:
Its new patent describes a system used to:
- Verify the identity of a patient/consumer receiving medication;
- Monitor the dispensing of medication/product to the patient/consumer;
- Monitor the development of the medication/product, including tracking the location from which the seeds are obtained, cultivation and harvesting of the plant, and conversion into medication/product;
- Support a complete biometric chain of custody seed to sale system from cultivation facility to dispensary where dispensing can occur through Medbox's patented "Secure- Safe" technology for added security and transparency.
On Sept. 22, MDBX shares closed at $8.55, down 7 cents from its closing price the previous day of $8.62.
Find out what could be the best investor's move when it comes to MDBX by getting the complete report here or by cutting and pasting the following link in your Web browser:
CytoSorbents Corp.'s Stock Volume Soars
CytoSorbents Corp.'s (OTCQB: CTSO) continues to plot along as it makes incremental progress in developing its life-saving products.
The Monmouth, N.J.-based medical device company's share volume soared Sept. 22, with 1.7 million shares changing hands, more than twice its average 30-day volume of 713,765 shares.
The high volume could have been triggered in part by CytoSorbent's recent announcement that U.S. the Cardiac Surgery Advisory Board will oversee the use of its CytoSorb device in cardiac surgery trials in the United States.
The company has yet to make up the ground it lost since Aug. 11 when its share value hit 30 cents.
On Sept 22, CTSO shares closed at 22 cents, down 1 cent from its closing price the previous day of 23 cents.
Find out what could be the best investor's move when it comes to CTSO by getting the complete report here or by cutting and pasting the following link in your Web browser:
Stellar Biotechnologies Inc. Share Volume Down
Stellar Biotechnologies Inc. (OTCQB: SBOTF) experienced an uneventful trading day Sept. 22.
With just 208,607 shares changing hands, the Port Hueneme, Calif.-based biotech company's share volume was substantially lower than its 30-day average volume of 992,897.
Part of the reason Stellar Biotechnologies share value and volume have appeared to hit a snag is the fact that the company continues to promote the value of its developing technology without offering any timeline on how long it will take before this translates into revenue.
On Sept 22, SBOTF shares closed at $1.63, down 4 cents from its closing price the previous day of $1.67.
Find out what could be the best investor's move when it comes to SBOTF by getting the complete report here or by cutting and pasting the following link in your Web browser:
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