Guided Therapeutics Inc (OTCBB:GTHP) Continues To Slide
Guided Therapeutics Inc (OTCBB:GTHP) has been sliding down the charts for quite some time and has lost a lot of the value that it had in the beginning of the year. More recently we also see a significant increase in daily volumes, suggesting that people who were holding on to GTHP shares have begun selling out.
The frightening this is that even good news aren’t capable of providing an upward push. On Tuesday the company announced a pretty lucrative deal with Shenghuo Medical, LLC about which we wrote in more detail in our previous article and even that didn’t manage to boost investor confidence.
Furthermore, GTHP isn’t exactly in great shape according to the contents of its latest financial report.
- cash: $56 thousand
- current assets: $2.05 million
- total liabilities: $6 million
- quarterly revenues: $262 thousand
- operating loss: $1.13 million
Those numbers aren’t looking good, but they are not the only red flag surrounding GTHP. The company has been quick to dilute its stock after performing a 1-for-100 reverse split back in February. This reduced the outstanding share count to about 3.15 million in the beginning of March. Just a couple of months later that number had increased to 29.8 million.
And while the optimistic press release from Tuesday didn’t manage to help GTHP we saw it crash a further 12.63% during yesterday’s sessions, closing at $0.017. A total of 6.01 million shares changed their owners, generating $104 thousand in daily dollar volume.
We see that GTHP is still going down in today’s trading so you should be sure to do your due diligence and weigh out the risks before putting any money on the line.
