BioSig Technologies Inc (OTCMKTS:BSGM) Gets Severely Corrected

[[tagnumber 0]][[tagnumber 1]]After a rather tough start of the year we saw BioSig Technologies Inc (OTCMKTS:BSGM) begin climbing up the charts in the middle of last month and the ticker kept gaining new ground while the daily volumes received a healthy increase.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The trigger of the ascent is most likely the interview with Greg Cash, [[tagnumber 6]]BSGM’s[[tagnumber 7]] CEO and President that was published on April 14. Another thing that helped the company stock gain altitude was the rather small market cap that it had before it began climbing and the financials that had to back it up in the recently published annual report for 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $953 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $984 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.47 million[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: $9.46 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Not that bad for an OTC entity in the medical industry, especially considering the rather tight share structure. This allowed [[tagnumber 6]]BSGM[[tagnumber 7]] to reach above the $2 per share mark and still keep climbing. Recent news, however, might be the reason for the correction that we saw yesterday.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Before yesterday’s session the company announced that it has closed a private placement with net proceeds of $4.5 million. In order to acquire the funds [[tagnumber 6]]BSGM[[tagnumber 7]] had to issue a little over 3 million shares at a price of $1.50 a pop and a half warrant with a cash exercise price of $1.95 and a 3–year expiration.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The discount at which the shares were sold must have not been to the liking of investors as we saw [[tagnumber 6]]BSGM[[tagnumber 7]] lose 13.49% of its value and close at $1.86. There were a total of 85 thousand traded shares that generated $164 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that [[tagnumber 6]]BSGM[[tagnumber 7]] is a bit more stable in today’s trading, but that doesn’t mean that the ticker has stopped correcting. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]