Even though some promotions took place about Power3 Medical Products,Inc.(OTC:PWRM) stock, they affected very little the market during the first two weeks of the year. The best word to describe this time would be stability.
There has been a very slight increase during yesterday`s session, which opened at $0.022 and closed at $0.0236, but it is hardly what investors are looking for. On the other hand, after a disastrous 2010 for Power3 stock, stability also might sound like good news.
Main line of business for Power3 Medical Products is the acquisition of specialty health care and biotechnology assets. Through its subsidiaries, it also conducts tests such as ones related to the development and analysis of new means for cancer and blood tests. The actual focus and challenge for the company is to successfully develop commercial applications for its proprietary technologies. Historically, this has turned out to be an immensely difficult target, which is clear not only from the development of the stock in the last few years but also from the balance sheets of the company.[BANNER]
The last 10-Q report filed in 2010 also can hardly inspire confidence in stockholders. According to it, the total current assets of Power3 are estimated at close to $20 thousand, against total liabilities of more than $5.8 million, all numbers hard to ignore despite all positive announcement that come around.
Much hope is directed to the announced last Sept. plan for merger between the company and Rozetta-Cell Life Sciences, Inc. On the other hand, it is still not a fact since the two enterprises agreed to extend the end date for the merger close to the middle of this year. Let alone, not all investors are thrilled about it as a conversion of the company’s stock will take place, meaning newly issued Power3 shares.
All in all, the company aims at fighting heavy diseases like cancer, Alzheimer’s etc. If successful, it may no doubt not only get back the stock to the long forgotten levels of $0.4 per share, but even surpass it significantly. Yet, there is another possibility that the promotions can get a delayed, but not postponed indefinitely response.
