Liquidmetal Technologies, Inc. (OTCBB:LQMT)’s Boost in Price
Liquidmetal Technologies, Inc. (OTCBB:LQMT)’s month started off on a bad note and the ticker was descending until October 9. After LQMT registered a decent 18% gain in the middle of last week it didn’t manage to gather momentum in an upward direction. Will the ticker be capable to do so now.
Yesterday LQMT came out with a pretty optimistic press release that managed to attract attention in the company stock. The published statement was announcing that the company has delivered missile canards to Lockheed Martin (NYSE:LMT), which will be fitted to their Extended Area Protection and Survivability (EAPS) for testing.
The news immediately rocketed the price of LQMT shares after the open of the session, which was marked by a hude dumping of stock.
The price jumped as high as $0.1769 in the first hour of the session, but relapsed moments later. It reached as low as $0.147 and regained some value to close 12.95% up from the previous day at $0.157 per share.
The volume of traded stock was more than 2 times double the ticker’s average. The total amount of shares that switched hands in the session was estimated at 7.4 million and helped generate a dollar volume of a hefty $1.2 million.
The main reason for LQMT‘s incapability of taking a firm upward direction is the fact that the company isn’t generating enough revenues to cover the expenses and work at a profit.
- cash: $4.2 million
- total current assets: $4.9 million
- total current liabilities: $1.89 million
- total liabilities; $4.6 million
- revenue: $150 thousand
- net loss: $1.9 million
The deal is that LQMT spends something in the range of $1.2 million for selling, marketing, general and administrative costs in order to be able to make a mere $150 thousand in revenue, which is 25% lower than what they made for the same period last year. When you top that with the fact that they have burnt through almost 50% of their cash reserves in the past 6 months to generate $265 thousand revenue for the period it starts to look grim.
In any case be sure to conduct your own due diligence and weigh out the risks for yourself if you have your mind set on LQMT.
Sigma Labs, Inc. (OTCMKTS:SGLB) had a pretty decent session yesterday as it climbed a good 19% up. On the other hand Ehouse Global, Inc. (OTCBB:EHOS)’s trading day went dreadful as the ticker fell 51% in value.
