Sigma Labs, Inc (OTCMKTS:SGLB) Achieves Record Prices
Yesterday Sigma Labs, Inc (OTCMKTS:SGLB) experienced a much calmer session compared to last Friday’s. Back then the stock opened a full cent lower then the previous close but through the day clawed its way back and then went even further up gaining more than 20% on record traded volume of 9 million shares. The gathered momentum carried over and a new 52 week high of $0.056 was reached with investors shifting another 6 million shares. Since the $0.005 held by the ticker in early 2012 the company has been making leaps and bounds up the stock chart.
SGLB are developing there own innovative manufacturing and materials technologies. The company’s current efforts have been focused on the 3d printing of metal parts and back in February they filed a new provisional patent for part certification. As part of their business plan SGLB managed to sign a joint venture with an aerospace Fortune 100 company with the purpose of developing their additive manufacturing technology. Another boost for their balance sheets was the contract they were awarded for the repair of gas turbines.
And as we mentioned balance sheet, lets check what financials SGLB had according to their quarterly report for the first quarter of 2013:
- $194 thousand cash
- $300 thousand total current assets
- $106 thousand total current liabilities
- $164 thousand revenues
- $196 thousand net loss
The company is capable of generating revenues despite making no sales of their technologies for the period. The flow of funds is primarily due to the consulting services they have been providing and in the past the issuance of shares. Currently the company has burned through 400 million out of their authorized 750 million shares. A big positive sign is the lack of paid promotions, a rather surprising fact among pennystocks. Today in early trading SGLB aren’t fairing so well and are 11% down.
The prolonged pump for Xumanii, Inc. (OTCMKTS:XUII) has just entered into its second round with new hard mailers, alert emails and landing pages being created. One of the biggest gainers was the stock of NanoTech Entertainment, Inc. (OTCMKTS:NTEK) who added another 23% to its value.
