ImageWare Systems, Inc. (OTCMKTS:IWSY) Rebounds
The downward momentum ImageWare Systems, Inc. (OTCMKTS:IWSY) seemed to have gathered was reversed on Tuesday as the stock hit a solid near the $1.70 mark and bounced back up. The last two green sessions have so far added 28 cents to the price.
After a prolonged price climb that started in spring IWSY seemed to more or less solidify its price at levels above the $2 mark. The biometrics and personal info security company announced its participation in yesterday’s Gateway Conference in San Francisco in late August. Yesterday’s event, even without any followup PR, may have helped the stock’s movement.
The company published its latest quarterly report in mid-August and it contained the following figures:
- $1 million in cash
- $3 million in current liabilities
- $1 million in Q2 revenues
- $5.6 million in Q2 net loss
The report shows a widening net loss QoQ despite a revenue increase driven by greater product sales figures. The field IWSY is working on is an exciting one and unlike many other OTC enterprises the company has already managed to start generating seven-digit revenues from its operations. However, R&D costs and additional expenses keep chewing through the revenue numbers and leaving the company with considerable quarterly net loss.
IWSY has the advantage of already having worked on governmental security biometric projects and should now be pushing hard to enter the broader market for its security solutions, as they become more widely adopted by business and consumer-grade applications and products. How successful IWSY is going to be in that regard remains to be seen and investors are, as usual, advised to do their own research on the company before making any decisions.
IWSY is another 4% up in early trading as of the time of writing.
Other OTC movers and shakers from Wednesday’s session include Xumanii International Holdings Corp. (OTCMKTS:XUII) who descended by almost a half to a close of $0.02, the pump that inflated them to $0.70 long gone and done for. Skyline Medical, Inc. (OTCMKTS:SKLN) were more fortunate and managed a 10% green close, reaching $0.41 by the bell.
