Dragni Dragnev

LabStyle Innovations Corp. (OTCMKTS:DRIO) Headed To Double Zeros

by Dragni Dragnev August 25, 2014

DRIO has been on a nightmare roller coaster ride bound to the bottom of the charts for five consecutive sessions now, and the results are truly horrendous. By the time Friday's final bell arrested the ticker's descent, company stock prices had already suffered a horrifying 90% drop from their Monday position. And by the look of things, DRIO stock will likely be headed even lower soon. Why?

Because after the session closed, DRIO filed another 8-K report that spelled disaster for its investors. In it, the company declared that, as of August 22, 2014 after all its toxic dilution shenanigans, it had an aggregate of 75.1 million shares outstanding. That number was 23 million as of May 14, 2014. Simple math shows that this is a dilution of approximately 325% over the course of little more than three months. Which is an off-putting statistic to say the least.

Add the fact that we're talking about a company that has no revenues to date and $3.2 million in net loss for the last quarter and it becomes clear why investors are currently abandoning DRIO. How far will this particular ship sink is currently unclear, but if it keeps going down as fast as it is now, it will be hitting rock bottom in a matter of days.

Another OTC Markets penny stock that crashed horribly on Friday is Lamperd Less Lethal Inc. (OTCMKTS:LLLI), who, after wiping 29.49% of its market value, is now worth about as little as DRIO.

 

 

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