Intelligent Highway Solutions Inc (OTCMKTS:IHSI) Gets A Severe Correction
[[tagnumber 0]][[tagnumber 1]]Trading of Intelligent Highway Solutions Inc (OTCMKTS:IHSI) stock has intensified lately and the reason for this is not very pleasant. The ticker has been sliding uncontrollably down the charts for about a month now and has managed to lose a grand total of 90% of its value in that short amount of time.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Last week brought even more reasons for [[tagnumber 6]]IHSI[[tagnumber 7]] to fall down the charts. The company filed its quarterly report for the second quarter of the year which was quite disappointing. Here is just an example of some of the numbers contained in the balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $8,401[[tagnumber 13]] [[tagnumber 12]]current assets: $137,440[[tagnumber 13]] [[tagnumber 12]]current liabilities: $3,164,609[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $8,612[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1,338,958[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite these numbers we saw that the ticker can still make some volatile movements. In Wednesday’s session it shot up an impressive 75% up the charts after a distribution agreement announcement came from the company.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday we saw another piece of PR come from company HQ, but it wasn’t enough to keep the price going and [[tagnumber 6]]IHSI[[tagnumber 7]] crashed spectacularly. The ticker lost a hefty 28.57% of its value and closed the session with a price of $0.0005 while 304 million shares changed their owners and generated $187 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that [[tagnumber 6]]IHSI[[tagnumber 7]] has stabilized at yesterday’s closing price in today’s trading so far, but considering the ugly numbers in the company’s financial report and the toxic debt that we discussed in our previous article we might see it tumble even further down the charts.[[tagnumber 2]]
