ImmuDyne Inc (OTCMKTS:IMMD) Surges On Pump
tags: IMMD
ImmuDyne Inc (OTCMKTS:IMMD) is a company whose stock rarely receives any investor attention and this is mostly evident by the fact that the last time we covered it was back in May 2013, when the ticker climbed up the charts, while being promoted.
The company itself isn’t doing so badly and has actually made progress over the years. It is generating revenues that have grown, but still finds it hard to finish with a positive bottom line. Here is a quick example of some of the numbers of prime interest contained in the balance sheet of its most recent financial report.
- cash: $203 thousand
- current assets: $641 thousand
- current liabilities: $436 thousand
- quarterly net sales: $1.64 million
- quarterly net loss: $108 thousand
Those numbers are pretty modest, but we see that IMMD has significantly increased its revenue over the past couple of years. The cash position is a bit stronger as well, but a recent turn of events begs us to question the decisions of the company’s management.
Yesterday the company was touted by One Equity Research, who stated that they have loaned $100 thousand to IMMD in an unsecured note with a 11% interest per annum. They then went on to pump the stock, which puts them in direct conflict of interest.
Nonetheless, IMMD surged 19.32% up the charts and closed the session with a price of $0.3101. The volume was the biggest in more than two years, but the 394 thousand shares that changed their owners at that price were only capable of generating $123 thousand in daily dollar volume.
It would appear that IMMD will be quick to correct, judging by its performance in today’s trading. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
