PositiveID Corp (OTCMKTS:PSID) Finishes The Week Red

[[tagnumber 0]][[tagnumber 1]]Last month the stock of PositiveID Corp (OTCMKTS:PSID) made an impressive performance in the charts which pushed it more than 100% up the charts by the beginning of July. As this month came, however, we saw the ticker lose altitude quite rapidly and the trading volumes decreased.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That was expected as the reason for last month’s climb was a promotional campaign carried out by The Wealthy Biotech Trader (TWBT) who are being compensated $25,000 per month by [[tagnumber 6]]PSID[[tagnumber 7]] itself and own a $62,500 in the form of a convertible note. Paying $25 thousand a month to get your company’s stock touted, however, seems a little over the top when your latest quarterly filing contains these numbers.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $598 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $608 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $9.7 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $131 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $3.8 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering these numbers and the fact that the ascent of [[tagnumber 6]]PSID[[tagnumber 7]] relied only on a paid promotion it is no wonder that things went South pretty fast. The pump, however, is ongoing. The latest PR from TWBT came last Tuesday and managed to provide for two positive sessions.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, the week ended badly with two consecutive sessions in the red. Friday’s 5.12% loss pushed the ticker to $0.02675 and the 6.9 million shares that changed their owners during the day generated $192 thousand in dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Putting into account the massive dilution that [[tagnumber 6]]PSID[[tagnumber 7]] has experienced in the last year that we discussed in our previous articles makes the ticker look even riskier. Doing your due diligence and weighing out the risks before putting any money on the line is absolutely crucial.[[tagnumber 2]]