As the name VisualMED Clinical Solutions Corp. (PINK:VMCS) hints, the company provides clinical solutions, like a complete electronic patient record. Earlier this year, the company reported some impressive results, but the stock didn’t take off so strongly as it did yesterday.
Yesterday, VMCS closed up 100% at $0.017. The volume was stunning 8.1 million shares. And all this happened due to a press release issued by the company before the markets opened.[BANNER]
The PR focused on an article about the failure of IT models and practices in the British Health IT program. Basically, the PR says the program failed because it didn’t take input from medical schools and physicians. Gerard Dab, CEO of VMCS, stated: “We are very encouraged by the recent turn of events… …the market is finally moving in our direction.”
It seems this was enough to cause the huge interest on the market. The immediate reaction was even more fervent; in the morning, there were transactions in which VMCS was traded as high as $0.027. In the end, this was just a PR about the potential VMCS has. It makes the reserved reaction to the annual report seem strange.
In its report for the year and quarter ending June 30, 2011, the company recorded almost $1.3 million in revenue for the quarter and $221 thousand net income. Most of it generated in the last fiscal quarter. There is no guarantee VMCS will continue to grow, but if it does it may provide shareholders with some value.
