Anastas Gegov

Implant Sciences Corporation (OTCMKTS:IMSC) Continues To Slowly Slide Down

by Anastas Gegov June 1, 2016

Implant Sciences Corporation (OTCMKTS:IMSC, IMSC message board) had a great run in the charts throughout April and it continued to climb in the beginning of last month as well. Unfortunately, the company stock was severely corrected and lost a lot of value over a short amount of time.

 

The blow that IMSC took in mid-May was accompanied by the release of the company’s earnings call conference and the filing of its report for the first quarter of the year. Taking a quick look at the numbers of prime interest might give us a hint for the negative sentiment from which IMSC suffered.

 

  • cash: $280 thousand
  • current assets: $14.7 million
  • current liabilities: $99.66 million
  • quarterly revenues: $10.74 million
  • quarterly net loss: $4.09 million

 

Those numbers seem impressive by OTC standards, but so is the market valuation of IMSC. The liabilities are simply huge and the net loss that the company has recorded has increased compared to the previous quarter, while the revenues have remained nearly the same.

 

After the stock fell on heavy volume we saw it regain some ground and close at $0.715 on May 20. Unfortunately, IMSC has been sliding since then, closing red in six consecutive sessions in a row. Yesterday it dropped another 6.25% and finished the day with a price of $0.60 while 157 thousand traded shares generated $96 thousand in daily dollar volume.

 

IMSC is still slipping in early trading today and there is a lack of press releases in the past couple of weeks, so you better be sure to do your due diligence and weigh out the risks before putting any money on the line. 

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