Georgi Kamburov

Skyline Medical Inc. (OTCMKTS:SKLN) Are On a Hesitant Climb

by Georgi Kamburov September 12, 2013
SKLNchart.pngSince mid-July the stock of Skyline Medical Inc. (OTCMKTS:SKLN, SKLN message board) has been on a tentative climb up the stock chart. Positive sessions are often followed by quick retraces but as a whole the stock is getting higher and higher. Yesterday they jumped up by 10% and closed at $0.41 on a traded volume of 1.5 million shares.

The company seems to present investors with a lot less risks than the other pennystocks operating in the industry. They have a FDA-approved product and have been able to successfully commercialize it. Their STREAMWAY system is designed to safely and efficiently dispose of surgical fluid waste by its direct to drain technology.

Hospitals have began to slowly but surely notice the small-cap company and in its announcement from September 9 and 11 SKLN revealed that both Advanced Orthopaedics, a privately held orthopedic practice, and Winter Park Memorial Hospital have purchased 3 STREAMWAY systems, respectively.

SKLN can surely use some boost to its revenues because for the second quarter of 2013 they disclosed the following financials:

  • $137 thousand cash
  • $382 thousand current assets
  • $3.3 million current liabilities
  • $150 thousand revenue
  • $1.1 million net loss

Accumulated deficit has reached the staggering $22.6 million. The CEO plans to increase the authorized amount of shares which may have something to do with the outstanding warrants and options. If all of them are exercised investors could be facing dilution of more than 60%. For now they have stayed away from any paid pumps. We have received only 8 email alerts 0XUIIchart2.pngtouting SKLN and all of them were distributed for no compensation.

The former Awesome Penny Stocks pump Xumanii, Inc. (OTCMKTS:XUII) is making a bounce and is 28% up after crashing to a new record low of just $0.2 per share yesterday. North American Oil & Gas Corp (OTCBB:NAMG) are also doing a bit of a comeback hovering around the $1 mark in early trading.

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