The year didn’t began very well for stock price of Interactive Health Network (OTCMKTS:IGRW). However, things have been stabilizing for the stock lately. After the stock price declined below triple zero land in last week of February, it faced hard time to bounce back. Earlier in April, the stock price started to climb for no obvious reason.
The press releases
Interactive Health is not too fond of getting investor attention and therefore, it rarely issues any press releases. The last time the company released a PR was on January 22, 2015 when it provided with the shareholder update. It stated that the anticipated revenue for the three months ended December 31 is in the range of $350,000 to $400,000.
The number game
As per the released numbers, Interactive posted cash of $10,000. It reported current assets of $153,000 and $1.58 million as current liabilities. The quarterly revenue was $353,000 and quarterly net loss stood at $228,000.The revenue came as per the projected guidance. Interactive Health reported decent set of revenue figures. The only problem was the cash balance that seems inadequate to carry out the operations in coming future.
The red flags
The other problematic area for Interactive Health Network (OTCMKTS:IGRW) is its current liabilities that are lot higher than the existing cash levels. When the numbers are analyzed thoroughly, a market cap of $8 million seems steep. Despite this, the stock price posted strong gains after the release of financial numbers. They gained more than 35% and closed the week around the level of $0.0019 per share.
Last trading session was no different for the stock price of Interactive Health as they surged 20% to close the trading session at $0.00360 per share, while a total of 39.63 million shares changed their owners. The volume was close to the average daily volume of 36.54 million.