ImageWare Systems, Inc. (OTCMKTS:IWSY) With A Modest Gain
Since June 10 the stock of ImageWare Systems, Inc. (OTCMKTS:IWSY) has been on a steep climb up the stock chart. The run started from $1.57 and the stock reached its 52 week high on Monday when it briefly touched $2.44 on record volume of 1.4 million shares. On the next day the ticker retreated losing 11% but now it shows signs of rallying once again. Yesterday it closed in the green by 2.4% on a significantly smaller volume.
The company is seeking their forte in the market for biometrically enabled software-based identity management solutions. This means that they are creating software that is capable of providing a reliable indication of a person’s identity with their main product being the IWS Biometric Engine. IWSY have been in operation for some time now and according to their quarterly report they finished the period with the following results.
- $2.2 million cash
- $3.2 million total current assets
- $3.4 million total current liabilities
- $856 thousand revenues
- $2.7 million net loss
In addition IWSY have an accumulated deficit of $121 million. The company is generating revenues but the sums are grossly outweighed by the incurred net loss. Also they have a bit of a problem repaying some convertible notes issued to related parties back in 2008.
The ticker hasn’t been picked up by any paid pumpers and the company hasn’t been over-indulgent in releasing PR 
announcements. Still they have been mentioned here and there which inevitably drew the attention of some investors. Today in early trading the stock is climbing tentatively.
In a stark contrast the stock of Petrosonic Energy Inc (OTCMKTS:PSON) has been crashing for a third day now and has lost 40% of its value as you can read in our article about it. Norstra Energy Corp. (OTCBB:NORX) on the other hand are showing some signs of revival after the ticker was crushed under a multy-million pump.
