PositiveID Corp (OTCMKTS:PSID) Can’t Find A Direction

[[tagnumber 0]][[tagnumber 1]]PositiveID Corp (OTCMKTS:PSID) hasn’t been doing very well lately. The company stock has been trading relatively slow and the movements in price have been very small. It appears that, at the moment, the ticker doesn’t have what it takes to attract the attention it managed to get in June.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is not something surprising. After all, as we have mentioned in our previous articles, the company is in a pretty bad shape. It has a lot of toxic debt, a history of paid promotions and a fairly bad balance sheet. Speaking of numbers, we can’t fail to mention that [[tagnumber 6]]PSID[[tagnumber 7]] filed their financial report for the period ended June 30, 2015 earlier this month and it contained the following numbers.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $672 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $767 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $10.89 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $51 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $2.95 million[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while the revenues have dropped by a lot we see that the liabilities and the net loss have increased significantly. That, however, isn’t the only thing that has increased in the past months. The outstanding share count of the company stock has risen from 169 million on December 31, 2015 to some 319 million on June 30, 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Needless to say, the issued shares came at a heavily discounted price and could bring quite the profits to the people owning them. Earlier this month we even saw Small Cap Crowd promotion [[tagnumber 6]]PSID,[[tagnumber 7]] after being compensated 1.3 million restricted shares by the company itself.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After some struggling we saw the ticker lose 6.32% in yesterday’s session and close at $0.0267, but the 3.8 million shares that were traded during the day were only enough to generate $103 thousand in dollar volume. Only time will show if [[tagnumber 6]]PSID[[tagnumber 7]] can take a more permanent course and, in the meantime, you should be sure to do your due diligence and weigh out the risks before making any investment decisions.[[tagnumber 2]]