Imageware Systems Inc (OTCMKTS:IWSY) Looking Bad After Q2 Report
The Q2 report for Imageware Systems Inc (OTCMKTS:IWSY) is a fact as of August 14 and the revenues weren’t the only thing that has increased in the period ended June 30. It shows that they have doubled their net loss and yesterday’s trade session didn’t went very well, despite the corporate uprade call from the CEO.
The stock of IWSY lost 10%, which equals to quite a few pennies when a stock is above the $2 mark. The ticker slid from $2.48 to $2.23 on a volume that was almost 4 times their average of 417 thousand traded shares.
The total amount of traded stock came at 1.8 million, which helped generate a trade value of $4.3 million. It seems like the figures from their latest 10-Q weren’t to the liking of some of their investors and quite a lot of people shed their holdings. You can see the numbers of prime interest from the report in question listed below.
- cash: $1 million
- total assets: $6.3 million
- revenues: $1 million
- net loss: $5.6 million
Even though they have quite a lot in cash and assets and have increased their revenue compared to Q1 the net loss is almost doubled, when you compare it to the $2.7 million they had in the first quarter of the year.
The company is issuing press releases and the CEO of the company, Mr. Jim Miller is trying to assure investors that they have invested in a solid company. Indeed they have some positive numbers in their quarterly report, but the overall picture portrays a company with a shaky development.
If you are thinking of investing in IWSY be sure to do a lot of due diligence and weigh out the risks, because recently they show that they are better at spending than at earning.
Probably the biggest surprise in yesterday’s trade session was the stock of SourcingLink.net, Inc. (OTCMKTS:SNET) who jumped a whopping 728% on a paid promotion that is still running today. The big percentile movement in an upward direction helped them close the day with $0.29 per share and quite a bit of traded stock, but they lost 17% from their value in the hour and a half that has passed since today’s market open and are currently nested at $0.24.
Not so interesting is the situation with Medical Mrijuana Inc. (OTCMKTS:MJNA), who barely moved in yesterday’s session. Today, however, they are looking promising and are 6.35% up, currently being traded at a price of $0.1675 per share.
