stock soared 15.56% on the market, while its traded volume exceeded 550 thousand shares.Historical data shows that IEVM has been progressing up for over a month and it’s still overbought with no reasonable explanation. The last news released by the company dates back to May this year. During that time, IEVM was promoted by Shamrock Stocks and a couple of positive announcement on the company were published. However, no more news on IEVM was released after that.[BANNER]
Probably, there should be something that has provoked the traders’ attention.
Integrated Environmental Technologies operates through its wholly owned subsidiary, I.E.T., Inc. and designs and assembles equipment. Historical records show that IEVM traded much lower during the last few months of 2009. However, in December the price started to climb up. In April, this year it rose up to $0.65 per share, though after that it moved down again.
The latest financial results of the company were not quite satisfying. IEVM reported an increase in sales, though it has incurred higher expenses and a net loss. Bad debt expenses for the three months ended in March, have also rose up to over $2 thousand, which is a significant change as compared to the previous quarter.
IEVM still has more assets than liabilities on its balance sheet, though this year the assets have declined. As of end of March the company had convertible loans totaling over $216 thousand, which are accruing interest at a rate of 10% per year payable semi-annually.
According to its financial report, IEVM believes that it has sufficient cash to meet its capital and operating requirements for at least the next quarter. However, today the progressive move of the stock was broken and the future results are up to be revealed.
