BTCS Inc (OTCMKTS:BTCS) Keeps Sliding Down
[[tagnumber 0]][[tagnumber 1]]The past couple of months haven’t gone very well for the stock of BTCS Inc (OTCMKTS:BTCS). After an impressive run up the charts in the end of July we saw the ticker drop down the charts and lose a significant amount of the value it had previously gained.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, the company issued its financial report for the second quarter of the year. The company stock didn’t receive much investor attention after the fact and didn’t show any signs of movements that were generated by it. Still, the numbers contained in it were significantly better than the ones we saw in the company’s previous filings.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $303 thousand[[tagnumber 11]] [[tagnumber 10]]current assets: $403 thousand[[tagnumber 11]] [[tagnumber 10]]current liabilities: $3.7 million[[tagnumber 11]] [[tagnumber 10]]quarterly revenues: $144 thousand[[tagnumber 11]] [[tagnumber 10]]quarterly net loss: $1.24 million[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We do see quite an increase in the company’s cash on hand and the quarterly revenues. Unfortunately, the net loss and the liabilities have also risen significantly in the period. On the good note, we don’t see a lot of issued shares of common stock in the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company also issued a very optimistic press release in the beginning of the month, which announced some great developments that might yield further increases in revenues in the near future. Still, with such big losses, profitability seems to be a distant dream.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This might be the reason for which the company stock continued to move sideways even after the optimistic news and even began to slowly slip further down in recent sessions. After yesterday’s 7.63% drop we saw [[tagnumber 32]]BTCS[[tagnumber 33]] close the session at $0.109 while a total of 716 thousand shares that were traded generated $78 thousand in daily dollar volume.[[tagnumber 2]]
