Imageware Systems Inc (OTCMKTS:IWSY) Slips and Slides Post 10-Q
In yesterday’s session Imageware Systems Inc (OTCMKTS:IWSY) got its first chance to trade on the new information contained in its latest quarterly report. The results were less than exciting, with IWSY closing 22% down on a volume spike.
Investors were quite obviously not thrilled by the performance reported, as the selling over yesterday’s session pushed IWSY back to its lowest closing price for the past 52 weeks. The report offered little reasons for cheering. Here is the brief summary of its balance sheet:
- $4.9 million in cash
- $2.5 million in current liabilities
- $1.1 million in Q3 revenues
- $1.8 million in Q3 net loss
Revenues are down 30% against the previous quarter, and net loss has grown, even if marginally. Though IWSY may be plodding through a rough patch, it’s far from a failing business drowning in dilution, and outstanding shares have barely increased against the previous quarter.
Still, it seems investors had high hopes for this last reported quarter and the report did not match their expectations, it seems. Investors on discussion boards are itching for a news release announcing a new major contract that could bring big dollars in the company’s coffers, and soon.
With IWSY scraping to annual lows, it seems there might be more volatility in the immediate future. The market is impossible to predict as for every naysayer spelling doom and gloom for the company in the wake of the price slide and underwhelming quarterly, there is another swearing up and down the boards that they are buying every dip they can.