Georgi Kamburov

Patient Safety Technologies, Inc. (OTCMKTS:PSTX) Heads For Record Heights

by Georgi Kamburov September 5, 2013
PSTXchart.pngYesterday Patient Safety Technologies, Inc. (OTCMKTS:PSTX, PSTX message board) had another positive session which propelled them 10% up to a $2.20 close. Interest in the stock was way above the average of 34 thousand shares reaching as high as 232 thousand. The stock almost reached its all-time record of $2.36 which may be surpassed if such a strong momentum is displayed today.

The company is a rather peculiar case among the pennystocks. It has never participated in a paid pump campaign, it releases only the bare minimum of PR articles and has been steadily progressing its business plan. PSTX offers the Safety-Sponge® System which helps hospitals dramatically decrease one of the most common surgical errors - retained surgical sponges.

Currently their customer base numbers 320 facilities who have already implemented their system or are scheduled to do so. Stock price has been closely following the performance of their operations and has more than doubled in the last two years. Their financial reserves are also adequate enough to support future growth and expansion. For the second quarter of 2013 they disclosed:

  • $4.9 million cash
  • $9.7 million total current assets
  • $5.4 million total current liabilities
  • $4.9 million revenues
  • $426 thousand net loss

What is keeping them down is their inability to achieve a positive bottom line despite the impressive amounts of generated revenues. As a result the accumulated deficit has reached $63 million. They may also have some problems with their exclusive 92WTERchart.pngdistributor Cardinal Health during 2014 so doing your own due diligence will help you decide on the appropriate time horizons for your investment.

Yesterday Lot 78, Inc. (OTCMKTS:LOTE) burst among the top traded stocks once again when it doubled its value and returned to $0.30 per share. The Alkaline Water Co, Inc. (OTCBB:WTER) who are touted by a pump boasting a total budget of $3 million also finished in the green, adding 22% and closing at $0.7.

Comments 0

Type the characters that you see in the box (5 characters).