keeps rising up.Yesterday, IMGG lost approximately 2% of its stock price and the volume exceeded 1.5 million shares traded. That’s a clear sign that traders are losing interest in the stock and they are selling their shares more intensively.
The last news on Imaging3 came up on Oct. 18, when the company announced it has “completed the previously announced institutional transaction and has successfully been funded”.
At the beginning of this month, IMGG reported that the company has entered into a Securities Purchase Agreement with two institutional investors for the sale of common stock and warrants for $1 million. It looks like now the transaction has been completed.[BANNER]
However, the positive news didn’t encourage investors and the stock price continued to move down.
The historical data shows that apart from the announcements, Imaging3 has been promoted over the last couple of months, thought he promotions could hardly help either.
In the meantime, as already mentioned on hotstocked.com, the financial condition of IMGG remains unsatisfactory. The cash resources of the company are not enough to cover the huge liabilities and working capital deficit, while the losses have been constantly increasing.
The only option left for Imaging3 is to rely on the funding it has reported recently, however, the future of the stock is to be seen.
