Intrinsyc Software International, Inc. (TSE:ICS) (PINK:ISYRF) is still up 30% after the company made a deal to join QNX partner network program, but the gains are deteriorating rather quickly.
The business is deemed to benefit from the partnership with QNX Software Systems Co. in the development of software and services based on QNX Neutrino RTOS system. The possible material effects of the partnership were not disclosed.
Developer of platform software solutions and navigation/LBS applications is carrying uncertain financial performance, so the new partnership is viewed as a possibility for significant changes. The company’s revenues have been stuck at roughly $3.4 million per quarter for the last year, and even though they have the cash to safely continue developments for the next couple years, the market tends to keep the share price down so that the market cap stays barely above net tangible assets.
Intrinsyc holds:Â
- $10.6 million in cash;
- $12 million in net tangible worth;
- Market cap of $18.7 million
- Plain revenues and comparatively small loses from development expenses.
After losing over 13% on Friday, the stock is currently residing at a psychological support level at one dollar. That’s a vague support from the point of historical price performance, but even if it breaks, the price shouldn’t go lover than 90 cents on the first try.
Trading volume faded on Friday, pointing out that traders were slowly taking profits on the last run-up, but the general sentiment remains bullish.
