Guided Therapeutics Inc. (OTCBB:GTHP) Sinks Like A Stone
Guided Therapeutics Inc. (OTCBB:GTHP) had a pretty exciting ride two weeks ago, but unfortunately it seems to be over, and there’s nothing to be done about it.
The anticipation of the company’s announcement about the LuViva® Advanced Cervical Scan and the actual announcement itself did miracles for GTHP‘s market value, but it was clear from the get-go that the ticker couldn’t maintain its elevated state. Why?
Well, first off, this was obviously a volatile hype jump, and those tend not to last. When the dust settles, everything that is keeping the ticker up can be found in the company’s filings – and the fact that there is no 8-k on the matter of the alleged agreement between GTHP and the FDA does not bode well for the ticker. It basically means that there is no way to confirm anything said by GTHP on the matter.
What can be confirmed is the fact that the company’s filings look positively dreadful:
- cash – $172 thousand
- current assets – $2.28 million
- current liabilities – $4.96 million
- quarterly revenues – $94 thousand
- quarterly net loss – $2.19 million
And if the mediocre-looking numbers weren’t off-putting enough, investors would certainly be thrilled to know that the company’s shares outstanding have more than doubled in the last year due to conversions of debt at significant discounts.
Not only that, but GTHP recently upped doubled its authorized shares and was cleared by its board of directors to perform a 1-for-10 to 1-for-100 reverse split at any point during in next three years.
Need we say more on the matter of GTHP‘s downfall?
