If the message boards of the company Advanced Medical Isotope Corp. (OTCMKTS:ADMD) is seen, it can be concluded that there are many shareholders who are terming the company as a ‘diamond in the rough.’ Here, it is essential to understand the reason behind the popularity of the company. If the financial numbers are analyzed, the question becomes all more meaningful.
The poor financials
As per the last filed 10-Q report, Advanced Medical reported cash of just $525. Yes, the figure is astonishing as there is no word like million or even thousand attached to the figure. The cash position is dismal. The picture becomes all more muddy when the working capital deficit figures are analyzed, which stands at $9.5 million. The company posted quarterly net loss of $866,000 and revenue was zero during the same period.
The latest financial report states that the stock price has been negatively affected by enormous dilution. IN the first three-quarters of last year, the issued and outstanding shares count increased to whopping 345 million from approximately 120 million. The number increased by 208 million shares in next few months. Advanced Medical issued a large part as conversion of debt. Going by the financial performance, there is not a single thing that can prove the company as a diamond in the rough. Despite the facts and figures, the stock performance has been outstanding in past few weeks.
Advanced Medical Isotope Corp. (OTCMKTS:ADMD) stock price first jumped back in December when press releases sent it out of triple-zero land. Again in January, it witnessed another bull run. In last one month, the stock price has surged more than 230% and in yesterday’s trading session, it surged more than 10% to close the session at $0.00410 for the first time since last October. A PR released back in December stated that the company opted for a de novo submission for Y-90 RadioGel.