Sigma Labs, Inc. (OTCMKTS:SGLB) Recovers
After a surge that started last Thursday and boosted Sigma Labs, Inc. (OTCMKTS:SGLB) up to a new high, the stock tripped up the steep upward incline and slipped about 20% over the next two sessions. Yesterday SGLB showed signs of recovery and closed over 7% up on volume that remained above-average, at 7.6 million shares.
Last week’s surge was driven by a news release as well as SGLB‘s latest quarterly filing that was made public on Thursday. Investors appeared excited about the results posted in the filing and the ticker immediately picked up in share volume and price. Here’s a brief rundown of the numbers SGLB posted:
- $1.2 million in cash
- $137 thousand in total liabilities
- $280 thousand in quarterly revenue
- $185 thousand in quarterly net loss
The company increased its cash position significantly through the mid-July private placement of 120 million shares of restricted stock. The company had 556 million outstanding shares as of the date of filing the report so this is no small amount of dilution but SGLB needs this money to propel operations forward into 2014.
Next year is also the expected target for the commercialization of the company’s products. In the last reported quarter SGLB still derived revenues from service contracts and those revenues slipped a little compared to the previous quarter. All long-term supporters are hoping that the general swell in the 3D printing industry will sweep SGLB along for a ride next year. Despite the promise that the ticker holds and the possibility of serious movement if the company announces a major commercial contract for its 3D technology, traders are advised to be careful and do their own due diligence.
Other big percentile movers and shakers in yesterday’s session include Growlife, Inc. (OTCBB:PHOT) who surged 29% on news of a joint venture. 3D Eye Solutions, Inc. (OTCMKTS:TDEY) bounced 28% after several big red days that had pushed the price back down to half a cent per share.