Root9b Technologies Inc (OTCMKTS:RTNB) Taking More Damage

[[tagnumber 0]][[tagnumber 1]]The stock of Root9b Technologies Inc (OTCMKTS:RTNB) was doing relatively well in the past month and it was reaching for the $2.5 per share mark by May 19. The second half of the month wasn’t so generous and we saw the ticker slide down the charts.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Many people believe in the company and weren’t happy to see this happen to their investment. On the other hand, there are a lot of people who want to see [[tagnumber 6]]RTNB[[tagnumber 7]] burn and are trying hard in their efforts. In our previous article we talked about a certain individual who wrote a lengthy piece about the company on a popular financial website, calling [[tagnumber 6]]RTNB[[tagnumber 7]] a “[[tagnumber 10]]public shell[[tagnumber 11]]”.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Looking and the numbers that the company has to show, however, this seems a bit exaggerated. Here are just some of the contents of the balance sheet from the report covering the first quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 19]] [[tagnumber 20]]cash: $5 million[[tagnumber 21]] [[tagnumber 20]]current assets: $23.4 million[[tagnumber 21]] [[tagnumber 20]]current liabilities: $17.5 million[[tagnumber 21]] [[tagnumber 20]]quarterly revenues: $9.5 million[[tagnumber 21]] [[tagnumber 20]]quarterly operating loss: $2.7 million[[tagnumber 21]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those are certainly some impressive numbers when you compare them to the offerings of other OTC entities. Someone might wonder why someone would call out a company that has such financials and explain how it is actually a “[[tagnumber 10]]public shell[[tagnumber 11]]”. As we previously mentioned, however, the individual behind the article was currently shorting [[tagnumber 6]]RTNB.[[tagnumber 7]][[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite that, after the ticker wiper about a quarter of its value in Monday’s session, it dropped a further 19.05% yesterday. It was apparent that a lot of people got cold feet as a massive 2.25 million shares changed their owners and generated $2.28 million in daily dollar volume as [[tagnumber 6]]RTNB[[tagnumber 7]] was going for a close at $1.02.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker is trying to stabilize and is so far 5.88% up in today’s session. Will it manage to regain more of its lost value, however, is for time to tell. Just be sure that you weigh in all the risks before making any investment decisions.[[tagnumber 2]]

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