Last Friday, Computer Vision Systems Laboratoris Corp (OTC:CVSL) closed the day with a loss and this week the fall continues. 
Yesterday, the stock lost another 14.06% of its market price on a substantial trading volume. If this downtrend will continue will be seen any moment.
The latest announcement by Computer Vision came up on July 14, when the company filed an 8-K form with the SEC. According to it, CVSL has entered into a License and Option to Purchase Agreement with Infrared Sciences Corp. to obtain the exclusive worldwide rights to use, develop, modify and commercialize the non-patented technology, equipment and other property known as the Sentinel BreastScan (the “Intellectual Property”). Pursuant to the agreement, CVSL may purchase the Intellectual Property any time prior to July 11, 2013 upon payment of $250.000 and the remaining $75.000 balance of the Licensing Fee, if not previously paid.
Despite the agreement news, CVSL stock price kept moving down and no other announcements were to follow. Looks like investors are waiting for something fresh to attract their interest.[BANNER]
Unfortunately, the company’s financials don’t inspire much confidence. Its latest 10-Q report contains neither cash & cash equivalents, nor any assets at all, accompanied by incurred liabilities and accumulated deficit. Also, no generated revenues against operating expenses that cannot be covered.
The management claims that they do not expect to generate any revenues over the next 12 months and will rely on third parties to manufacture their product. However, if a manufacturer fails to perform it, CVSL could experience significant time delays or may be unable to commercialize its device.
In other words, Computer Vision has no cash to implement its business plan and no option to get profitable at this point.
