A Serious Correction For ImageWare Systems, Inc. (OTCMKTS:IWSY)

[[tagnumber 0]][[tagnumber 1]]ImageWare Systems, Inc. (OTCMKTS:IWSY) had been going through a rough patch over the past couple of months. Some optimistic news in the end of last week, however, managed to boost the ticker up above the $2 per share mark on a massive volume, but it was time for the quarterly report of the company which would set the course for the following sessions.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, the report didn’t contain as much optimism as the recent press releases of the company. [[tagnumber 6]]IWSY [[tagnumber 7]]had used up a lot of its cash, while in the same time it generated lower revenues compared to the same period last year and also recorded a huge net loss. Here are the numbers of prime interest contained in the company’s balance sheet for the third quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $488 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $1.84 million[[tagnumber 13]] [[tagnumber 12]]total assets: $5.67 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $3.47 million[[tagnumber 13]] [[tagnumber 12]]total liabilities: $4.51 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $919 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $2.24 million[[tagnumber 13]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As mentioned in our previous article, the cash on hand that [[tagnumber 6]]IWSY [[tagnumber 7]]has at the end of the third quarter has significantly decreased from $2.15 million in Q2 to $488 thousand. In the same time, the revenues are almost the same, but compared to 2013, much smaller.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This made an impact and [[tagnumber 6]]IWSY [[tagnumber 7]]lost 14.78% of the value it had gained, closing at $1.96. The total amount of shares that were traded during the session came to 941 thousand, which generated $1.88 million in daily dollar volume as people were trying to get out.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, there is time to see if the developments reported more recently have had any impact on the situation of the company, so be sure to do your due diligence and weigh out the risks before making any investment decisions.[[tagnumber 2]]