Ampliphi Biosciences Corp (OTCMKTS:APHB) Announces Reverse Split

[[tagnumber 0]][[tagnumber 1]]After a burst that pushed the stock price of Ampliphi Biosciences Corp (OTCMKTS:APHB) to the 30 cent per share mark at the end of March we have seen the ticker struggle in the charts, losing around 50% of the value that it had back then in the following months.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]With a market cap of $50 million we can’t say that [[tagnumber 6]]APHB[[tagnumber 7]] is one of the most overvalued OTC stocks, especially when you consider the numbers that you can find in the company’s balance sheets. Here is just an example of some of those contained in the report for the first quarter of the years.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $16.6 million[[tagnumber 13]] [[tagnumber 12]]current assets: $17 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.1 million[[tagnumber 13]] [[tagnumber 12]]revenues: $102 thousand[[tagnumber 13]] [[tagnumber 12]]net loss: $14.5 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yes, the net loss is quite big, but looking at the cash on hand that [[tagnumber 6]]APHB[[tagnumber 7]] has recorded it looks like the company will be capable to continue with development. What is most worrying, however, is the fact that the company has financed its operations mainly through sale and issuance of convertible notes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although this is always bad we saw some optimistic news coming from company HQ yesterday. [[tagnumber 6]]APHB[[tagnumber 7]] announced that it has been cleared to submit a listing application to the New York Stock Exchange (NYSE). The same press release also mentioned a 1 for 50 reverse split which should aid the process of the uplisting.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The deal is that even after the announcement and the subsequent 16.88% gain that [[tagnumber 6]]APHB[[tagnumber 7]] recorded in yesterday’s session the company stock is still sitting at only $0.18 per share. In fact, the last time that [[tagnumber 6]]APHB[[tagnumber 7]] had a price upward of $1 per share, that is demanded if the stock is to be listed on the NYSE, was way back in the beginning of 2008.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, we should note that the company stock has already been delisted from a national exchange back in 2010 when it dropped out of the NASDAQ. When you consider the fact that there might be further issuance of common stock as conversion of debt we can only wonder if [[tagnumber 6]]APHB[[tagnumber 7]] is capable of maintaining a price of more than $1 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As always, doing your due diligence and weighing out the risks is crucial, especially when facing fluff PR and forward–looking statements that are unlikely to transfer into reality.[[tagnumber 2]]