to climb up again by soaring 14.55% and trading over 1 million shares on the market.Historical data shows that the stock movement has been quite uncertain over the past month, considering the fact that it was supported by promotions last week. Though, a few days after being promoted IMGG stock price fell down again.
Imaging3 has not released much news about its business during the last weeks, apart from its latest financial report and a notice about the company’s annual meeting in January next year.[BANNER]
According to its 10-Q report, the company’s revenue has increased, however, its liabilities got approximately 8 times higher than the total assets. Besides, Imaging3 has an accumulated defict of over $13 million, as well as a significant net loss and huge expenses. Above all, the company’s cash and cash equivalents total only $8 thousand, which is far less than the amount of money Imaging3 will need to cover the losses.
Imaging3, Inc. is engaged in production and sale of medical equipment, parts and services. As already mentioned on hotstocked.com, on Nov 1 a Regulation Disclosure came up reporting that the FDA has rejected the company’s medical device. Imaging3 disagreed with FDA’s position and engaged an independent consulting firm to refile the application for clearance. However, the results are yet to be seen.
In the meantime, the company’s funds continue to decrease and the management states they don’t have sufficient capital to meet their cash needs, while the losses are expected to continue.
