ImageWare Systems, Inc. (OTCMKTS:IWSY) Takes a Step Back
After climbing back to $2 per share a week ago, reversing a drop from $2.2, ImageWare Systems, Inc. (OTCMKTS:IWSY) seem to have momentarily lost their mojo again. Yesterday the stock dropped by 8% to come to a close of exactly $1.80 per share.
There have been no significant news releases from the company since we last covered its stock a week ago. IWSY took part in an investor conference in San Francisco that was held last week and which may have in part assisted the price recovery. The company did not publish any followup PR after the event.
There is a lot of speculation by traders concerning IWSY‘s future plans, including a rumor that IWSY is planning a reverse split by the end of fiscal 2013 – a possibility that is frowned upon as shareholders would rather have the ticker’s share price appreciate into uplisting levels instead of get thrust there artificially and the company is not yet in a position where it can boast sequential quarterly growth. However, all this remains in the field of speculation as there is no hard evidence to support it.
The last published report of IWSY contained the following:
- $1 million in cash
- $3 million in current liabilities
- $1 million in Q2 revenues
- $5.6 million in Q2 net loss
The stock price has retraced significantly from its summer highs of around $2.7 per share and is struggling to shake off a red streak, so investors are advised to tread with caution and do their own research before making any decisions.
Other stocks that shrunk in yesterday’s session include Media Analytics Corp. (OTCBB:MEDA) who also closed 8% down. Cal-Bay International, Inc. (OTCMKTS:CBYI) were even less fortunate and crashed 42%, ending the session at one tenth of a cent.
