Veriteq Corp (OTCMKTS:VTEQ) Close To Rock Bottom Again

[[tagnumber 0]][[tagnumber 1]]The stock of Veriteq Corp (OTCMKTS:VTEQ) has lost 99% of its value over the course of the past couple of months. The latest stay of the ticker at $0.0002, near rock bottom, seems to have excited investors who want to buy cheap shares in hope that they will make a profit.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After all, the company stock doesn’t have much lower to go when it is at the bottom of triple zero land. The excitement can be seen in the impressive volumes that [[tagnumber 6]]VTEQ [[tagnumber 7]]is being traded in. What does the company have to show, however? Let’s start with some of the latest info. On May 20 [[tagnumber 6]]VTEQ [[tagnumber 7]]finally filed their Q1 report which contained the following numbers of prime interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $16 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $157 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $8 million[[tagnumber 15]] [[tagnumber 14]]quarterly sales: $95 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $809 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These numbers are bad enough for themselves. The cash on hand is definitely very low, the liabilities are big and the revenue hasn’t grown much compared to the same period last year. Stressing out the need for cash on hand we will quote Scott R. Silverman, Chairman and CEO of [[tagnumber 6]]VTEQ [[tagnumber 7]]– “[[tagnumber 30]]Although not currently marketed, our radiation dose measurement technologies, which are FDA cleared and were previously commercialized, can be ramped up and made available to patients once again [[tagnumber 6]]with the necessary capital in place[[tagnumber 7]][[tagnumber 33]].“[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]What’s even more bothering, however, is the share structure. Back in February [[tagnumber 6]]VTEQ[[tagnumber 7]] executed a massive 1 for 1000 reverse split which left it with 1.2 million outstanding shares. According to the Q1 report of the company their OS count at the end of March was just above 30 million. This leads us to question how the 823.81 million volume of yesterday is even possible.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the fact that [[tagnumber 6]]VTEQ[[tagnumber 7]] is closing in on rock bottom and is sitting at $0.0002 after Friday’s 33.33% loss we can still see the stock bounce. That, however, doesn’t mean that you should skip on doing your due diligence, weighing out the risks and adjusting your trades accordingly.[[tagnumber 2]]