Guided Therapeutics Inc (OTCBB:GTHP) On The Slide Again

[[tagnumber 0]][[tagnumber 1]]OTCBB:GTHP)’s stock had been sliding for quite a while now and reached a low of $0.0358 last Thursday. Following that the ticker somehow managed to regain some lost value and recorded an impressive 30.35% jump in Monday’s trading that pushed it above the 5 cent per share mark.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]If you have followed [[tagnumber 6]]GTHP[[tagnumber 7]] for a while you would know that it is a pretty regular OTC biotech entity. The financials aren’t that great and there are still a lot of things to work out before the company will be able to generate enough revenues to make a profit. A quick look at the report for the second quarter of the year shows just that.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $1.97 million[[tagnumber 13]] [[tagnumber 12]]current assets: $3.26 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $4.79 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $103 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1.7 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The worst part for now is probably that the cost of goods sold is double that of the total sales. Still, the company estimates that the revenues for 2015 will come at $1.1 million, a healthy 45% increase compared to 2014. The deal with the Turkish Ministry of Health will probably keep a healthy dose of the revenue flowing in the following years as well, while the company manages to find a bigger market for its LuViva® Advanced Cervical Scan.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, there are still quite a lot of shares of preferred convertible stock and the number of authorized shares was already increased to 500 million with hopes that the shareholders will vote to increase it to 1 billion on next shareholder meeting.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Needless to say, this puts a lot of stress on [[tagnumber 6]]GTHP[[tagnumber 7]] and the results are clear. The ticker has been sliding in the past two sessions and it dropped to a price of $0.0429 per share after yesterday’s 13.33% fall. A total of 2.68 million shares of common stock were traded and generated $111 thousand in daily dollar volume, a significant decrease compared to Monday’s trading.[[tagnumber 2]]