Pump for International Stem Cell Corp. (OTCMKTS:ISCO) Falls Through
The green run of International Stem Cell Corp. (OTCMKTS:ISCO) seems to have come to an abrupt and unpleasant end, as it often happens with stocks targeted by pumpers. After running from $0.15 to $0.21 in just four sessions, the stock pulled back over 13% in yesterday’s session.
The ticker had managed to stay out of the sights of promoters for a good while, barring a couple of stray emails from earlier this autumn. Sadly, last week several different outfits sent touts for ISCO, even if against rather modest compensations. Probably the most damaging among those was the tout from Jet Life Penny Stocks.
The track history of Jet Life is a truly dismal one, with virtually all of the promoter’s picks tanking shortly after. Recent examples include Bullfrog Gold Corp. (OTCMKTS:BFGC) who received a Jet Life tout around the $0.30 mark and are currently nearly 50% down form those levels, as well as mLight Tech, Inc. (OTCMKTS:MLGT) who managed a drop from $0.10 to $0.03 following the alert email from Jet Life Penny Stocks.
ISCO is a company that has some potential, but it’s still far from being realized. Here is what the most recent quarterly contains:
- $654 thousand in cash
- $2.5 million in current liabilities
- $1.4 million in quarterly revenues
- $2.2 million in quarterly net loss
The company is generating revenues but those are chewed through by expenses and result in recurring net loss in the millions, for a total of $75 million in accumulated deficit. The stem cell tests run by ISCO are still in their early stages as well, with animal trials being conducted, so it will be a while before the company has anything marketable. The stock was doing reasonably well on its own and the recent pumps only served to create an artificial bubble that may have already popped, so caution is advised.
