Imaging3, Inc. (OTC:IMGG) has been skiing down the slope since Sept. 22. Last Friday, the stock index dropped down by 4.39% and closed at 0.2725. Nothing unusual was spotted in the traded volume, which reached its average value of around 670 thousand.
The flow of news about IMGG.PK has practically ceased for some time, which seems to be the reason for the drop in the stock price. The company’s website indicates that a conference call was scheduled for Aug.12 to update shareholders about the current developments with the company. Mysteriously, there has been no more publicly announced news regarding this meeting.
Meanwhile, as discussions at iHUB point out, investors seem eager to get a response about the company’s 510k FDA submission. Expectations are that the response would have a major impact on the IMGG stock price.
IMGG has incurred substantial operating deficits since its inception. In addition, according to its 10-Q report, the company doesn’t have enough cash flow from operations to maintain or grow its business. The report also indicates that unless IMGG manages to procure additional capital, it can face and ill-fated future.
As investors are puzzled by the informational eclipse by IMGG, the prices are falling down. Apparently, traders need the company to unveil its intentions and current activities.
