Implant Sciences Corp. (OTCMKTS:IMSC) Trying to Retrace April Highs

7IMSC_chart.pngYesterday’s session saw Implant Sciences Corp. (OTCMKTS:IMSC) climb for a third day in a row, closing another 3% up on progressively increasing share volume. The stock price has now almost reached the last surge IMSC went through back in April this year.

While the previous surge in price was more of a short-lived spike that arguably happened due to panic-induced trading in the wake of the tragic events at the Boston marathon, and the price slipped quickly after a one-day climb, this time around IMSC seems to be moving up on more substantial news.

We last covered the stock as it came down from its April spike. Since then the price slipped further down but started a slow and steady climb in late May. This trend intensified in the last nine sessions, with IMSC climbing from just under a dollar per share to its last close at $1.19.

Traders will probably be pleased to know that this is a business that moves up and down charts without the assistance of stock pumps. Apart from that, the financial situation of IMSC is not exactly in full bloom. Here is an excerpt from the 10-Q for Q1 of this year:

  • zero in cash, $1.2 million in restricted cash and investments
  • $46 million in total liabilities
  • $1.2 million in Q1 revenues
  • $5.3 million in Q1 net loss

Even though Q1 revenue has grown year-over-year, the company is still failing to turn profitable. The steady increase in stock price was possibly assisted by IMSC issuing several press releases recently, announcing presentations of its detector at various forums and selling it to various clients. Whether this will be enough to steer a significant revenue stream into the company’s coffers and help IMSC turn profit remains to be seen.

4XUII_chart.pngOn the other side of the fence, in yesterday’s session Yappn Corp. (OTCBB:YPPN) dropped 11% and recent huge pump Xumanii, Inc. (OTCMKTS:XUII) slumped nearly 12% to a close of $0.235 per share. Both those companies opened green in today’s session.

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