JNJ, leading indicator of bio-tek sector stocks, fonnd it's bottom last Friday and ended a 4-month downward trend; this is the best time to enter bio-tek stocks, like BANY, CLBE, and PMED -- they will follow JNJ to a new upward trend.
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Is this going to continue going up? or am I going to be broke within the next couple of days ;| Any views on where this will be by the end of nov.?
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Fairly New--thats a hard prediction,most pennies drop after the filing but rebound quick unless of course its an extremely outstanding 10-q.The stocks listed are gradual climbers and not real runners imo.They all have good business plans that over time will increase share holder value imo
ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION This report contains forward-looking statements and information relating to the Company that is based on beliefs of management as well as assumptions made by, and information currently available to management. These statements reflect its current view respecting future events and are subject to risks, uncertainties and assumptions, including the risks and uncertainties noted throughout the document. Although the Company has attempted to identify important factors that could cause the actual results to differ materially, there may be other factors that cause the forward-looking statements not to come true as anticipated, believed, projected, expected or intended. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those described herein as anticipated, believed, projected, estimated, expected or intended.
CRITICAL ACCOUNTING POLICIES
REVENUE RECOGNITION. The Company recognizes revenue in compliance with Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements (SAB 101), as revised by Staff Accounting Bulletin No. 104, Revenue Recognition (SAB 104). SAB 101 and SAB 104 detail four criteria that must exist before revenue is recognized:
1. Persuasive evidence of an arrangement exits. Prior to shipment of product, the Company required a signed purchase order and, depending upon the customer, a down payment toward the final invoiced price or full payment in advance with certain international product distributors.
2. Delivery and performance have occurred. Unless the purchase order requires specific installation or customer acceptance, the Company recognizes revenue when the product ships. If the purchase order requires specific installation or customer acceptance, the Company recognizes revenue when such installation or acceptance has occurred. Title to the product passes to its customer upon shipment. This revenue recognition policy does not differ among its various different product lines. The Company guarantees the functionality of its product. If its product does not function as marketed when received by the customer, the Company either makes the necessary repairs on site or has the product shipped to the Company for the repair work. Once the product has been repaired and retested for functionality, it is re-shipped to the customer. The Company provides warranties that generally extend for one year from the date of sale. Such warranties cover the necessary parts and labor to repair the product as well as any shipping costs that may be required. The Company maintains a reserve for estimated warranty costs based on its historical experience and management's current expectations.
3. The sales price is fixed or determinable. The purchase order received from the customer includes the agreed-upon sales price. The Company does not accept customer orders, and therefore does not recognize revenue, until the sales price is fixed.
4. Collectibility is reasonably assured. With limited exceptions, the Company requires down payments on product prior to shipment. In some cases the Company requires payment in full prior to shipment. The Company also performs credit checks on new customers and ongoing credit checks on existing customers. The Company maintains an allowance for doubtful accounts receivable based on historical experience and management's current expectations.
RECOVERABILITY OF INVENTORY. Since its inception, the Company has purchased several complete lines of inventory. In some circumstances the Company has been able to utilize certain items acquired and others remain unused. On a quarterly basis, the Company attempts to identify inventory items that have shown relatively no movement or very slow movement. Generally, if an item has shown little or no movement for over a year, it is determined not to be recoverable and a reserve is established for that item. In addition, if the Company identifies products that have become obsolete due to product upgrades or enhancements, a reserve is established for such products. The Company intends to make efforts to sell these items at significantly discounted prices. If items are sold, the cash received would be recorded as revenue, but there would be no cost of sales on such items due to the reserve that has been recorded. At the time of sale, the inventory would be reduced for the item sold and the corresponding inventory reserve would also be reduced.
RECOVERABILITY OF GOODWILL AND OTHER INTANGIBLE ASSETS. The Company's intangible assets consist of goodwill, product and technology rights, engineering and design costs, and patent costs. Intangibles with a determined life are amortized on a straight-line basis over their determined useful life and are also evaluated for potential impairment if events or circumstances indicate that the carrying amount may not be recoverable. Intangibles with an indefinite life, such as goodwill, are not amortized but are tested for impairment on an annual basis or when events and circumstances indicate that the asset may be impaired. Impairment tests include comparing the fair value of a reporting unit with its carrying net book value, including goodwill. To date, the Company's determination of the fair value of the reporting unit has been based on the estimated future cash flows of that reporting unit.
ALLOWANCE FOR DOUBTFUL ACCOUNTS. The Company records an allowance for doubtful accounts to offset estimated uncollectible accounts receivable. Bad debt expense associated with the increases in the allowance for doubtful accounts is recorded as part of general and administrative expense. The Company's accounting policy generally is to record an allowance for receivables over 90 days past due unless there is significant evidence to support that the receivable is collectible.
GENERAL
The following Management's Discussion and Analysis of Financial Condition and Results of Operations, contains forward-looking statements, which involve risks and uncertainty. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors discussed in this section. The Company's fiscal year is from January 1 through December 31.
The Company is engaged in the design, development, manufacture and sale of high technology diagnostic and surgical eye care products. Given the "going concern" status of the Company, management has focused efforts on those products and activities that will, in its opinion, achieve the most resource efficient short-term cash flow. As seen in the results for the three months ended September 30, 2005, diagnostic products have been the major focus and the Photon and other extensive research and development projects have been put on hold pending future evaluation when the Company's financial position improves. The Company does not focus on a specific diagnostic product or products but, instead, on the entire diagnostic product group.
RESULTS OF OPERATIONS
THREE MONTHS ENDED SEPTEMBER 30, 2005, COMPARED TO THREE MONTHS ENDED SEPTEMBER 30, 2004 Net sales for the three months ended September 30, 2005 decreased by $349,000, or 39%, to $550,000 as compared to $899,000 for the same period of 2004. This reduction in sales was primarily due to decreased sales of the Blood Flow Analyzer and a softening of sales of the older A Scan and A/B Scan units as well as Dicon perimeters and corneal topographers.
For the three months ended September 30, 2005, sales from the Company's diagnostic products totaled $600,000, or 109% of total revenues, compared to $832,000, or 93% of total revenues for the same period of 2004. These sales were offset by credits that exceeded by $50,000 the combined amount of revenues from parts, disposables, and service during the three months ended September 30, 2005.
Sales of the P40, P45 and new P60 UBM Ultrasound Biomicroscopes increased to $419,000 during the second quarter of 2005, or 76% of total quarterly revenues for the period, compared to $373,000, or 41% of total revenues, for the same period last year. Sales of the Blood Flow Analyzer decreased by $170,000 to $14,000, or 3% of total revenues, for the three months ended September 30, 2005, compared to net sales of $184,000, or 20% of total revenues during the same period in 2004. Sales from the P37 A/B Scan Ocular Ultrasound Diagnostic decreased to $48,000, or 9% of total revenues, for the three month period ended September 30, 2005, down compared to $98,000, or 11% of total revenues, for the same period last year. Combined sales of the LD 400 and TKS 5000 Autoperimeters and the 200 Corneal Topographer were $119,000, or 22% of the total revenues, for the three months ended September 30, 2005, compared to $178,000, or 20% of total revenues, for the same period of 2004.
Sales have been lower for the Company due to an industry slow down. Additionally, sales of the Blood Flow Analyzer decreased due in part from the reorganization of the Company's sales force. The Company anticipates reversing the downward trend in sales through the addition of independent sales representatives, concentrated marketing of the new P60 UBM and other product innovations.
For the three months ended September 30, 2005, gross profit decreased slightly by 4%, to 56% of total revenues, compared to the 60% of total revenues for the comparable period of 2004.
Marketing and selling expenses decreased by approximately $55,000, or 28%, to $143,000, for the three months ended September 30 2005, from $198,000 for the comparable period in 2004. The reduction was due primarily to a reduced number of sales representatives and lower travel related and associated sales expenses and a shift to more independent representatives.
General and administrative expenses increased by $36,000, or 13%, to $312,000 for the three months ended September 30, 2005, from $276,000 for the comparable period in 2004. The expense of the shareholders meeting held on August 12, 2005 was largely responsible for the increase.
Research, development and service expenses increased $48,000, or 29%, for the three months ended September 30, 2005 to $211,000, compared to $163,000 recorded in the same period of 2004. Much of the increase was from the additional development work associated with the P60 and other product line improvements in process.
NINE MONTHS ENDED SEPTEMBER 30, 2005, COMPARED TO NINE MONTHS ENDED SEPTEMBER 30, 2004 Net sales for the nine months ended September 30, 2005 decreased by $325,000, or 14%, to $1,963,000 as compared to $2,288,000 for the same period of 2004. This reduction in sales was primarily due to reduced sales of the Blood Flow Analyzer (trademark symbol) and a softening of sales of the Dicon (trademark symbol) perimeters and corneal topographers.
For the nine months ended September 30, 2005, sales from the Company's diagnostic products totaled $1,771,000, or 90% of total revenues, compared to $2,084,000, or 91% of total revenues for the same period of 2004. The remaining 10% of sales, or $186,000 during the nine months ended September 30, 2005 was from parts, disposables, and service revenue.
Sales of the P40, P45 and P60 UBM Ultrasound Biomicroscopes increased to $1,096,000 during the nine months ended September 30, 2005, or 56% of total quarterly revenues for the period, compared to $639,000, or 28% of total revenues, for the same period last year. Sales of the Blood Flow Analyzer (trademark symbol) decreased by $399,000 to $76,000, or 4% of total revenues, for the nine months ended September 30, 2005, compared to net sales of $475,000, or 21% of total revenues during the same period in 2004. Sales from the P37 A/B Scan Ocular Ultrasound Diagnostic decreased to $128,000, or 7% of total revenues, for the nine month period ended September 30, 2005, down compared to $229,000, or 10% of total revenues, for the same period last year. Combined sales of the LD 400 and TKS 5000 Autoperimeters and the 200 Corneal Topographer were $471,000, or 24% of the total revenues, for the nine months ended September 30, 2005, compared to $741,000, or 32% of total revenues, for the same period of 2004.
Sales have been lower for the Company due to a variety of reasons. Sales of the Blood Flow Analyzer (trademark symbol) decreased due in part from the reorganization of the Company's sales force. The Company anticipates reversing the downward trend in sales through additional efforts by the Company to gain more widespread support for the Blood Flow Analyzer (trademark symbol) though increased clinical awareness, product development and improved marketing plans.
For the nine months ended September 30, 2005, gross profit decreased by 10%, to 52% of total revenues, compared to the 62% of total revenues for the comparable period of 2004.
Marketing and selling expenses decreased by $38,000, or 7%, to $509,000, for the nine months ended September 30 2005, from $547,000 for the comparable period in 2004. The reduction was due primarily to a reduced number of sales representatives and lower travel related and associated sales expenses.
General and administrative expenses decreased by $47,000, or 5%, to $964,000 for the nine months ended September 30, 2005, from $1,011,000 for the comparable period in 2004. The general and administrative expense savings reflected the on-going results of the Company's cost reduction program and more aggressive budget management procedures implemented in the first nine months of 2005.
In addition, during the first quarter of 2005, the Company issued 515,206 shares of common stock to two shareholders that had purchased shares of the Company's Series G convertible preferred stock in a private offering. Under the terms of the private offering, the Company was required to file a registration statement with the Securities and Exchange Commission for the purpose of registering the common shares issuable to the Series G preferred stockholders upon conversion of their Series G preferred shares and exercise of their warrants. The shares were issued as a penalty for the Company not having a registration statement declared effective within 120 days of the initial closing of the private offering.
Research, development and service expenses increased by $128,000, or 24%, to $671,000 for the nine months ended September 30, 2005, compared to $543,000 in the same period of 2004. Much of the increase was due to the development and regulatory requirements in releasing the new P60 UBM.
LIQUIDITY AND CAPITAL RESOURCES
The Company used $2,491,000 in cash in operating activities for the nine months ended September 30, 2005, compared to $92,000 for the nine months ended September 30, 2004. The increase in cash used for operating activities for the nine months ended September 30, 2005 was primarily attributable to the Company's net loss and decreases in accounts payable and accrued liabilities and an increase in inventory, specifically for the P60. Net cash provided in financing activities was $2,609,000 for the nine months ended September 30, 2005, versus cash used of $42,000 in the same period in 2004. The Company had working capital of $1,221,000 as of September 30, 2005. In January 2005, the Company sold 2,000,000 shares of its common stock to an accredited investor for $150,000 in cash. In the past, the Company has relied heavily upon sales of the Company's common and preferred stock to fund operations. There can be no assurance that such equity funding will be available on terms acceptable to the Company in the future.
As of September 30, 2005, the Company had net operating loss carry- forwards (NOLs) of approximately $48 million. These loss carry-forwards are available to offset future taxable income, if any, and have begun to expire in 2001 and extend for twenty years. The Company's ability to use net operating loss carryforwards (NOLs) to offset future income is dependant upon certain limitations as a result of the pooling transaction with Vismed and the tax laws in effect at the time of the NOLs can be utilized. The Tax Reform Act of 1986 significantly limits the annual amount that can be utilized for certain of these carryforwards as a result of change of ownership.
As of September 30, 2005, the Company had accounts payable of $530,000, a significant portion of which was over 90 days past due. The Company has contacted many of the vendors or companies that have significant amounts of payables past due in an effort to delay payment, renegotiate a reduced settlement payment, or establish a longer-term payment plan. While some companies have been willing to renegotiate the outstanding amounts, others have demanded payment in full. Under certain conditions, including but not limited to judgments rendered against the Company in a court of law, a group of creditors could force the Company into bankruptcy due to its inability to pay the liabilities arising out of such judgments at that time. In addition to the accounts payable noted above, the Company also has non-cancelable capital lease obligations and operating lease obligations that require the payment of approximately $194,000 in 2005, and $14,000 in 2006.
The Company has taken numerous steps to reduce costs and increase operating efficiencies. These steps consist of the following:
1. The Company closed its San Diego facility. In so doing, numerous manufacturing, accounting and management responsibilities were consolidated. In addition, such closure resulted in significant headcount reductions as well as savings in rent and other overhead costs.
2. The Company has significantly reduced the use of consultants, which has resulted in a large decrease to these expenses.
3. The Company has reduced its direct sales force to five representatives, which has resulted in less payroll, travel and other selling expenses.
Because the Company has significantly fewer sales representatives, its ability to generate sales has been reduced.
The Company has taken measures to reduce the amount of uncollectible accounts receivable such as more thorough and stringent credit approval, improved training and instruction by sales personnel, and frequent direct communication with the customer subsequent to delivery of the system. The allowance for doubtful accounts was 2% of total outstanding receivables as of September 30, 2005 and 14% as of December 31, 2004. The allowance for doubtful accounts has decreased from $101,000 at December 31, 2004 to $20,000 at September 30, 2005. The reduction in the allowance for doubtful accounts was the result of the collection of no receivables previously allowed as part of the allowance for doubtful accounts and the write off of $81,000 of receivables against the allowance. The downturn in the economy worldwide has resulted in increased difficulty in collecting certain accounts. Certain international dealers have some aged, unpaid invoices that have not been resolved. The Company has addressed its credit procedures and collection efforts and has instituted changes that require more payments at the time of sale through letters of credit and not on a credit term basis.
The Company intends to continue its efforts to reduce the allowance for doubtful accounts as a percentage of accounts receivable. The Company has ongoing efforts to collect a significant portion of the sales price in advance of the sale or in a timely manner after delivery. During the nine months ended September 30, 2005, the Company had a net recovery of no receivables previously allowed, and during the nine months ended September 30, 2005, the Company did not add to the allowance for doubtful accounts. The Company believes that by requiring a large portion of payment prior to shipment, it has greatly improved the collectibility of its receivables.
The Company carried an allowance for obsolete or estimated non- recoverable inventory of $1,371,000 at September 30, 2005 and $1,559,000 at September 30, 2004, or approximately 51% and 69% of total inventory, respectively. The Company's means of expansion and development of product has been largely from acquisition of businesses, product lines, existing inventory, and the rights to specific products. Through such acquisitions, the Company has acquired substantial inventory, some of which the eventual use and recoverability was uncertain. In addition, the Company has a significant amount of inventory relating to the Photon laser system, which does not yet have FDA approval in order to sell the product domestically. Therefore, the allowance for inventory was established to reserve for these potential eventualities.
On a quarterly basis, the Company attempts to identify inventory items that have shown relatively no movement or very slow movement. Generally, if an item has shown little or no movement for over a year, it is determined not to be recoverable and a reserve is established for that item. In addition, if the Company identifies products that have become obsolete due to product upgrades or enhancements, a reserve is established for such products. The Company intends to make efforts to sell these items at significantly discounted prices. If items are sold, the cash received would be recorded as revenue, but there would be no cost of sales on such items due to the reserve that has been recorded. At the time of sale, the inventory would be reduced for the item sold and the corresponding inventory reserve would also be reduced.
At this time, the Company's Photon (trademark symbol) Laser Ocular Surgery Workstation requires regulatory FDA approval in order to be sold in the United States. Any possible future efforts to complete the clinical trials on the Photon (trademark symbol) in order to file for FDA approval would depend on the Company obtaining adequate funding. The Company estimates that the funds needed to complete the clinical trials in order to obtain the necessary regulatory approval on the Photon (trademark symbol) to be approximately $225,000.
EFFECT OF INFLATION AND FOREIGN CURRENCY EXCHANGE
The Company has not realized a reduction in the selling price of its products as a result of domestic inflation. Nor has it experienced unfavorable profit reductions due to currency exchange fluctuations or inflation with its foreign customers. All sales transactions to date have been denominated in U.S. dollars.
IMPACT OF NEW ACCOUNTING PRONOUNCEMENTS
In December 2003, the FASB issued Interpretation No. 46 ("FIN 46R") (revised December 2003), CONSOLIDATION OF VARIABLE INTEREST ENTITIES, AN INTERPRETATION OF ACCOUNTING RESEARCH BULLETIN NO. 51 ("ARB 51"), which addresses how a business enterprise should evaluate whether it has a controlling interest in an entity through means other than voting rights and, accordingly, should consolidate the entity. FIN 46R replaces FASB Interpretation No. 46 (FIN 46), which was issued in January 2003. Before concluding that it is appropriate to apply ARB 51 voting interest consolidation model to an entity, an enterprise must first determine that the entity is not a variable interest entity (VIE). As of the effective date of FIN 46R, an enterprise must evaluate its involvement with all entities or legal structures created before February 1, 2003, to determine whether consolidation requirements of FIN 46R apply to those entities. There is no grandfathering of existing entities. Public companies must apply either FIN 46 or FIN 46R immediately to entities created after January 31, 2003 and no later than the end of the first reporting period that ends after December 15, 2004. The adoption of FIN 46 had no effect on the Company's consolidated financial position, results of operations or cash flows.
In November 2004, the FASB issued SFAS 151 "Inventory Costs an amendment of ARB No. 43." This statement amends the guidance in ARB No. 43, Chapter 4, "Inventory Pricing," to clarify the accounting for abnormal amounts of idle facility expense, freight, handling costs, and wasted material (spoilage). Paragraph 5 of ARB 43, Chapter 4, previously stated that "[u]nder some circumstances, items such as idle facility expense, excessive spoilage, double freight, and re-handling costs may be so abnormal as to require treatment as current period charges. . . ." This statement requires that those items be recognized as current-period charges regardless of whether they meet the criterion of "so abnormal." In addition, this statement requires that allocation of fixed production overheads to the costs of conversion be based on the normal capacity of the production facilities. The provisions of this statement shall be effective for inventory costs incurred during fiscal years beginning after June 15, 2005. The Company does not believe adoption of SFAS 151 will have any impact on the Company's consolidated financial statements.
In December 2004, FASB issued SFAS 153 "Exchanges of Nonmonetary Assets an amendment of APB Opinion No. 29." The guidance in APB Opinion No. 29, Accounting for Nonmonetary Transactions, is based on the principle that exchanges of nonmonetary assets should be measured based on the fair value of the assets exchanged. The guidance in that opinion, however, included certain exceptions to that principle. This statement amends Opinion 29 to eliminate the exception for nonmonetary exchanges of similar productive assets and replaces it with a general exception for exchanges of nonmonetary assets that do not have commercial substance. A nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. The Company does not believe adoption of SFAS 153 will have any impact on the Company's consolidated financial statements.
In December 2004, the FASB issued FASB Statement No. 123 (revised 2004), "Share-Based Payment." Statement No. 123 addresses the accounting for share-based payment transactions in which an enterprise receives employee services in exchange for (a) equity instruments of the enterprise or (b) liabilities that are based on the fair value of the enterprise's equity instruments or that may be settled by the issuance of such equity instruments. Statement 123 (Registered symbol) requires an entity to recognize the grant-date fair-value of stock options and other equity-based compensation issued to employees in the income statement. The revised statement generally requires that an entity account for those transactions using the fair-value-based method, and eliminates the intrinsic value method of accounting in APB Opinion No. 25, "Accounting for Stock Issued to Employees", which was permitted under Statement 123, as originally issued. The revised statement requires entities to disclose information about the nature of the share-based payment transactions and the effects of those transactions on the financial statements.
Statement No. 123 is effective for public companies that do not file as small business issuers as of the beginning of the first interim or annual reporting period that begins after June 15, 2005. For public companies that file as small business issuers, Statement No. 123 is effective as of the beginning of the first interim or annual reporting period that begins after December 15, 2005 (i.e., the first quarter of 2006 for the Company). All public companies must use either the modified prospective or the modified retrospective transition method. Early adoption of this statement for interim or annual periods for which financial statements or interim reports have not been issued is encouraged. The Company believes that the adoption of this pronouncement may have a material impact on the Company's financial statements.
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well hazel, i noticed that it stated that tey're haveing problems paying there creditors, and may have to seek protection under bankruptcy. I don't think that is good. unless they can come up with the cash, i will have to sit this one out. maybe in the future, but not right now.
-------------------- Time will give you what you want!
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this is why i never second guess myself, or shouldnt anyways. I got in at .01 and should have got out at .0112 i decided to see if this was going to be a steady UP trend, what a surprise!!! This might be where this stock is going to trade unless they cut the bs holding them back and start over. Advise on whether I should get out at .0055 or just ride it out and waste all of my money. Why do we love investing so much? lol
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hazel i'm not an advisory consultant, but if it were me, i would ride it out. after all the dst settes,you could see a nice litte bouncer. as i have watched this stock for some time i have noticed that it bounces on low volume. a bad Q i'll agree, but could turn around into your favor. low o/s, so no worries of a r/s, and company has good potential to reverse revenues, which could dramatically chage the direction of the pps. jmo, and follow your own trading rules, if you think it's time, then it's time. glty, and i wish you the best.
-------------------- Time will give you what you want!
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Talk about second guessing...I was in at .01 even and it went to .02 in a couple of days. Pretty much traded between .014 and .018 for numerous days, left it on the table because of the things I liked about it and the price. Then before you know it, it's down to .008 x .0105 and the MM's played this one like you wouldn't believe. Like I stated previously on PMED, they would drop it 15% on a 5k share sell ($50 worth of stock, give me a break). At that time I had enough of those games and called it quits on PMED. Right after that, it jumped back to .0125 and I kicked myself, only to watch it go back to the .008's within hours....didn't have the stomach for this one. Today's quarterly was nothing but mediocre to bad news and I'm not surprised by the drop. I guess the question to ask yourself when you are down a lot on a stock, would I buy it at this price for the first time? If yes, then keep it, if not, sell it and move on. Personally, if I had the time, I'd buy it here at .0055 only because I have a list of 150 stocks and any of them that go down 30% in a day, I buy, if for no other reason, the dead cat bounce. That philosophy works fairly well for me and prevents me from chasing stocks that have gone up to much already. The lack of news from this company, though, will probably prevent this one from going much higher from here for an extened preiod of time, but I can see 10-20% up from here in the coming days-weeks. Unfortunately, I'm not going to have have access to a compuer for about 8 days after Thanksgiving and if I can't babysit these OTCBB's, then I'm outta the market until I can (except for GZFX which I'll hold for at least the next 2-3 months as plenty of news should keep it afloat). Good Luck on your choice.
-------------------- I may be wrong, but I don't think so....
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I agree with bullistic that the MMs are taking advnatage of the situation. I have traded this stock several times. 0.0055 is a good buy point, never sell at this price. Hold it, and put a sale order at 0.0108. I am 80% confident, your sale order will go thru within 4 weeks. PMED is a real company with potential. Don't let the MMs take advantage of the situation.
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I personally averaged down off this 10-q,I didn't expect such a reaction but thats life in the OTC's.The OS is still very small and this could move quick again once they start posting PR's.They do have a real business and inventory thats accountable....time will tell but I am still considering this just a short to maybe mid term play.
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I tried to average down today but couldn't get a bite at my ask .... which could be a good sign, since it means people aren't too desperate to sell. I'm deep in the red on this one, though.
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