It looks like the recently started extensive investor relations program of Vicor Technologies, Inc. (OTC:VCRT) could not change for long investor attitude towards the stock of the company. The CEO presentation and the promotions have obviously failed to present promising new fundamental data and yesterday VCRT closed the market again with a loss in its value. 
Yesterday traders received new promotional e-mails featuring VCRT, but the stock price kept falling down, the market closing at $0.11 for a share. Trading volume exceeded 476,000 shares, while the share price declined by 8.33% from the previous close. As already reported, VCRT promotional campaign is running for more than three weeks now and it has been paid by the company itself with $7,200 in cash and 50,000 restricted trading shares.
Vicor Technologies has not issued any news related to its business during the campaign, not counting the announcements about the company’s presentations to various groups of investors that are apparently also part of VCRT investor awareness program. Yet, the market currently values the stock at around $5 million, which seems low for a biotechnology company that claims to be focused on promising innovative diagnostic products.
VCRT financial reports might justify the market valuation. The company is still in the development-stage, although it has reported total revenues of $1.2 million since its inception in 2000. The accumulated losses already exceed $50 million and the company has mostly intangible assets ($8 million reported as deferred financing costs).
In addition, there are convertible notes for more than $8 million, which may cause dilution to shareholders in the future. Some of the notes have a conversion price equal to 75% of the average of the three lowest closing bid prices during the 10-day period preceding the conversion date.
