TDCP got above the average trading activity yesterday with 9.02 million shares traded. Yet, the increase in the closing price was only 6.58% and the stock closed the market at $0.081. Today’s session could be hot, at least in terms of trading volume, for one more reason: TDCP filed its annual report after market close yesterday.
At first sight, the 10-k contains no surprises and the company is still in the development stage, still placing all hopes on its Sponsored Research Agreement with the University of Oklahoma to deliver a marketable product that could generate sales on the market. TDCP financial reserves as of December 31, 2010 amounted $367,101 and the company had working capital deficit, which makes the funding agreements on place insufficient to cover the ongoing expenses.
What the 10-K also suggests, is that the company has not yet conducted the planned reverse stock spit, the expectation of which could be among the reasons for the appreciation of TDCP share price this month. At the end of December last year, 3DIcon approved the increase of the number of authorized shares of the company’s common stock from 750,000,000 to 1,500,000,000, as well as a reverse split of the company’s common stock in a ratio between 1 for 10 and 1 for 25 at the discretion of the Board of Directors. If the Board elects to implement the reverse stock split, it is authorized to so until June 1, 2011.
Last week 3DIcon announced to have signed a Facilities Use Agreement with Oklahoma State University-Tulsa’s (OSU-Tulsa) Helmerich Research Center, under which the company would use the facilities for creating the next generation image space for its Cspace(R) 3D volumetric technology for the creation of an image space with enhanced brightness and resolution.
