Implant Sciences Corporation (OTCMKTS:IMSC) Gets A Severe Correction

[[tagnumber 0]][[tagnumber 1]]Implant Sciences Corporation (OTCMKTS:IMSC) had a pretty good run in the past couple of months and we saw it reach the 80 cent per share mark earlier this month. There was hesitation from time to time, but the overall direction that [[tagnumber 2]]IMSC[[tagnumber 3]] was going was upward.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]The volumes also increased and it looked like nothing can stop [[tagnumber 2]]IMSC.[[tagnumber 3]] There was also some speculation around investor message boards that was keeping the hype up. In Monday, however, [[tagnumber 2]]IMSC[[tagnumber 3]] filed its report for the quarterly period ended March 31, 2016 and it contained the following numbers of prime interest.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 15]] [[tagnumber 16]]cash: $280 thousand[[tagnumber 17]] [[tagnumber 16]]current assets: $14.7 million[[tagnumber 17]] [[tagnumber 16]]current liabilities: $99.66 million[[tagnumber 17]] [[tagnumber 16]]quarterly revenues: $10.74 million[[tagnumber 17]] [[tagnumber 16]]quarterly net loss: $4.09 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Those numbers are fairly decent by OTC standards, but [[tagnumber 2]]IMSC’s[[tagnumber 3]] market cap was getting a bit high and it showed almost no progress compared to the previous quarter. Meanwhile, the company has recorded nearly half of the losses for the nine months ended March 31, 2016 in the last three month period.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]This, coupled with the freshly released transcripts from the company’s earnings conference might be the reason for the recent loss of investor confidence that cost [[tagnumber 2]]IMSC[[tagnumber 3]] 20.56% of its value yesterday. As the ticker was going for a close at $0.58 we saw a total of 1.27 million shares change their owners, generating $769 thousand in daily dollar volume.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]We see [[tagnumber 2]]IMSC[[tagnumber 3]] a bit more stable in today’s session, but this might very well be the end of its ascent up the charts. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 4]]