Anastas Gegov

Advanced Medical Isotope Corp. (OTCMKTS:ADMD) Keeps Climbing

by Anastas Gegov March 31, 2016

Advanced Medical Isotope Corp. (OTCMKTS:ADMD, ADMD message board) wasn’t doing all that well in the first couple of months of the year. This happened after some paid promoters were engaged in pushing the stock up and the company helped the do it.

 

ADMD certainly has a lot of red flags surrounding it, but it has managed to make an impressive run despite that. The first and most obvious thing that one would look at is the financial state of the company. According to its report, covering the third quarter of last year, it’s not that rosy.

 

  • cash: $7 thousand
  • current assets: $42 thousand
  • current liabilities: $8.8 million
  • revenues: $12 thousand
  • net loss: $2.5 million

 

These numbers look pretty terrible, but they are far from the only red flag surrounding ADMD. The company reached its authorized share count of 2 billion back at the end of the period that the same report covered and has since taken measures to further dilute the stock.

 

The company was authorized to perform a reverse split with a ratio ranging between 1-for-100 and 1-for-3000 within a year of the approval date and it will most likely do so. After that we will most likely see more shares flood the market, especially considering the dreadful financial state of the company.

 

That, however, didn’t stop ADMD from gaining some 17.50% in value yesterday and closing at $0.0047. A total of 40.31 million shares changed their owners and managed to generate some $170 thousand in daily dollar volume.

 

ADMD is still moving up today, but that doesn’t mean that you should skip on doing your due diligence and weighing out all the risks, especially when you consider the big red flags surrounding the company.

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