3DIcon Corp. (OTC:TDCP) share price has been moving down since it hit a new 52-week high several weeks ago. The company was back then probably expected finally to issue some really positive news, though investors were maybe disappointed as TDCP is keeping silent since the 10-K was filed. 
TDCP closed yesterday at $0.0395, or around the middle of its recent trading range, but with a 5.95% decrease in the share price as compared to the previous close. Trading volume was around one third of the average for the past 30 days of trading, which looks a positive signal for now that TDCP could remain in this higher range. Another positive thing is that the stock has become more volatile, and thus more attractive for trading. A support level is found at $0.02, whereas the next resistance is at $0.05.
3DIcon Corp. has not issued any news since March this year, respectively the planned reverse split has not taken place yet. Currently, the market cap is at over $38 million, which looks inflated for the high risks of a development-stage company. However, that value results also from the 968.6 million outstanding shares, authorized being 1.5 Billion. The deadline for the Board of Directors to decide to approve the reverse split is June 1, 2011.
The company aims to develop a marketable full-color volumetric 3-D technology and currently its only asset is the Sponsored Research Agreement with the University of Oklahoma and the exclusive license agreement covering the technology on which the University and Dr. Hakki Refai are working. Further, TDCP had as of end-December 2010 limited cash resources and it intends to leverage stock-for-services payment method, which would mean dilution for shareholders.
