In last trading session, the stock price of Implant Sciences Corporation (OTCMKTS:IMSC) jumped more than 3% to close the day at $0.403. The gains came at a share volume of 148,850 compared to average share volume of 272,022. IMSC stock had been on a decline since November 2015 as the investors saw their holdings erode quite a lot of share value.
Implant Sciences stock had registered some positive momentum in last few trading sessions. The market capitalization of company isn’t that vast when compared to the market cap of other OTC listed firms. As per the last financial report, the company posted cash of $776,000. The current assets came at $14.5 million while current liabilities amounted to $96 million. Implant Sciences reported revenue of $10.2 million on net loss of $3.3 million.
The financial report is definitely not rosy. On one side, the revenues of Implant Sciences have gone up considerably on a Y-o-Y basis while on the other hand, its current liabilities are simply massive. The company successfully extended some of its debt’s maturity, however, it’s not that impressive. This didn’t halt its stock from registering a decent run in couple of trading last week.
Implant Sciences issued additional detail pertaining the terms and conditions of its recently extended secured credit deals with DMRJ Group, LLC and Montsant Partners LLC, and the group of investors embodied by BAM Administrative Services, LLC. The changes in amended secured credit deals are intended to get the required leeway of the maturity dates to permit for the required time to allow management and Board of Directors to complete previously reported assessment and potential application of strategic alternatives.
Implant Sciences submitted a Current Report on April 8, 2016 for reporting these matters. Under the revised deal, the maturity date of the obligation owed to DMRJ is extended from March 2016 to June 2016.