Last month was a good month for the stock price of Advanced Medical Isotope Corp. (OTCMKTS:ADMD) as it managed to record gains of more than 600%. However, the stock failed to build on last month’s gains in April. The problems started when the company didn’t released its annual report on the previously announced date. Instead it submitted application for later filing with SEC on March 31. Things didn’t change when they released the report as the numbers were dismal.
As per the latest report for the period ended December 31, Advanced Medical recorded cash of just $203. It generated revenue of $24,108 but again the current liabilities stood at massive $20.25 million. The net loss was $18.01 million while the current assets were just $30,388. The financial numbers came as a big disappointment as cash is almost not there in the updated balance sheet.
The current assets are little while liabilities are massive. The only silver lining is that the company has recorded some revenue, which again is very less compared to the net loss figures. Here, it is worthwhile to mention that $10.56 million loss out of the total loss was a resultant of “loss on derivative liability”.
Things don’t look better for Advanced Medical Isotope Corp. (OTCMKTS:ADMD). Apart from the latest financial report, the company failed to report any other press release in last few months. It was on December 23, 2014 when it released a PR stating that the management filed a “de novo” submission for the product Y-90 RadioGel™ with the FDA. The decision on the matter is expected soon as the deadline was of 120 days. It can be stated as the main reason that boosted the stock price by more than 600% in just one month. On Friday, the share price made a high of $0.0023 but then declined and closed at $0.0021.