the market and its traded volume rose over 6 million shares.The records show the gain has begun last Thursday, just the day after IMGG was promoted. Before the promotion, the stock was falling down on a huge volume, however, on the next day it started to gain at full speed.
At the beginning of this month, Imaging3 held a conference call, presented on the company’s website, while on Friday the quarterly results of IMGG have been reported.[BANNER]
According to them, the company’s assets total about $404, while its liabilities have increased by over $3 million. Besides, the net loss of Imaging3 exceeded $1 million and the company doesn’t have sufficient cash to cover it.
On Nov 1, there was a Regulation Disclosure concerning IMGG, reporting that the FDA has rejected the company’s medical device. Imaging3 disagreed with the FDA’s position and planed to engage an outside independent consulting firm and refile its application for clearance. However, the disclosure stated that “there is no assurance that such approval will be obtained”.
In the meantime, the market position of IMGG stock remains uncertain, as it has been constantly up and down, operating at increasing liabilities and decreasing capital resources.
