Sigma Labs, Inc. (OTCMKTS:SGLB) Strides Up
Yesterday Sigma Labs, Inc. (OTCMKTS:SGLB) strode 15% up the charts and arrived at its early November levels. The ticker generated its largest share volume for this month, propelled by a press release as well as its quarterly report that came out.
After remaining mostly quiet in terms of press releases over the last couple of weeks, SGLB went into a slow price decline that ended yesterday. On Thursday the company announced that it received complete rights in its patent for dental implants that integrate into bone tissue. This was highlighted as a step towards monetizing the company’s portfolio. SGLB has a marketing agreement with Manhattan Scientifics, Inc. related to the implants.
The quarterly report published yesterday listed the following:
- $1.2 million in cash
- $137 thousand in total liabilities
- $280 thousand in quarterly revenues
- $185 thousand in quarterly net loss
Revenues have shrunk a bit quarter over quarter but the step down is a small one. The company stated that revenues were generated from sales of two of SGLB‘s PrintRite3D systems to a ‘leading aerospace corporation’, for testing and evaluation purposes. This is very likely related to the aerospace division of General Electrics and their interest in metal 3D printing.
However, the new quarterly report still does not contain a more specific date for the viable commercialization of SGLB‘s technology and lists ‘fiscal 2014’ as the target, so the question which probably interested a lot of investors – when are the sales revenue coming in – remains without a more specific answer.
Other significant movers in Thursday’s session include Nutranomics, Inc., f/k/a Buka Ventures, Inc. (OTCBB:NNRX) who dropped 11% after a much deeper midday slump. Endeavor IP, Inc. (OTCBB:ENIP) punctured a tire after getting pumped and dropped over 17%.