and now PSGY is trying to hold the climb. However, it is yet not certain how it will survive.The records show that Princeton Security has not published any news these days and the only way to keep the progressive move for longer remain promotions. Yesterday, PSGY was promoted by StockGuru.com for free and it is interesting if the campaign will influence the stock price this time. In any case, Stock Guru hurried up to insure everyone that the promotion wasn’t aimed to making money off the tragedy in Japan and PSGY was worth watching.
Is the stock really worth watching? The latest news the company published on its website was an announcement that Youtube Video has posted on Testing/Overview of a High Purity Germanium Detector. Just a few days ahead, Princeton Security reported it has received new orders for its Radiation Detection technology and the company was expecting an increase in its annual sales this year. The positive projections pushed up PSGY stock price to some extent, though no one knows how long the up move will resist.
Princeton Security Technologies, through its wholly-owned subsidiary Princeton Gamma-Tech Instruments, Inc, is a supplier of Gamma-ray Detectors, Spectroscopy systems, Radiation Detection Area Monitors and Radioactive Radioisotope Identifier products. Over the past year, the company has had sharp ups and downs in the share price, though currently the stock is still holding the up move on no recent news released.[BANNER]
According to its 10-Q report, as of end-September, 2010 the company’s total assets have been just a bit higher than its liabilities and the total deficit reached approximately $2 million. Historically, Princeton Security has financed its working capital requirements through internally generated funds and sales of equity and debt securities.
The company believes it will be able to service the ongoing payables and liabilities with current revenue and existing capital, however, they expect seeking additional capital through the sale of equity securities. Besides, its deficit keeps increasing. Therefore, Princeton Security is dependent on selling its inventory and collecting receivables to cover the payables, or on additional debt to cover any liquidity needs.
