Applied DNA Sciences Inc (OTC:APDN) finally broke up the loss and started running up. Yesterday, the stock soared 4% on the 
market, while trading over 1 million shares for the day.
The reason for the sudden price jump is typical for ADS – hot news by the company. The latest announcement reported that ADS has increased the size of its Board of Directors with some new appointments.
Apparently, the news was provocative enough to encourage investors and APDN got the climb. Now it is interesting how long it will continue.
Applied DNA Sciences makes use of the complex codes embedded in botanical DNA. According to historical records, the company has often used optimistic press releases to push up its stock price, though the climb did not last long.
On Aug 10, APDN filed its unaudited 10-Q report for the period ended June 30, 2011. However, the results don’t seem positive at all:
* $229,710 revenue
* $292,972 current assets
* $4,868,054 current liabilities
* $3,974,468 stockholders’ deficiency [BANNER]
Judging by these numbers, the financials of ADS look disastrous especially when we consider the accumulated deficit of over $157 million as well as the substantial net loss.
On July 15, the company closed a private placement of its common stock. ADS issued and sold 105,263,158 shares of common stock at a purchase price of $0.0475 per share to accredited investors for gross proceeds of $5,000,000. Though, the company’s existence is still dependent upon management’s ability to develop profitable operations and it keeps functioning under a going concern.
