Sigma Labs, Inc. (OTCMKTS:SGLB) Drops Despite News
Monday’s session pushed the stock price of Sigma Labs, Inc. (OTCMKTS:SGLB) down another 7% to a close of $0.19 per share despite a press release that Sigma put up around noon. Share volume was near the average monthly values, at 7.6 million shares changing hands.
The company came forward with a new press announcement, after nearly a full month of silence. The release informs that Sigma signed a joint technology development agreement (JTDA) with Metronic Systems, LLC – a Washington company producing 3D laser scanners. The JTDA is aimed at speeding along commercialization of SGLB‘s PrintRite DEFORM module.
The release once again explains in a nutshell how in-process quality assurance works and how aerospace corporations will benefit from the inspection of part geometry on the fly instead of post-production. The purpose of the joint effort is to add 3D laser scanning into Sigma’s PrintRite and this is a fine endeavor, which was met with a universal enthusiasm among traders.
Even though this is likely a move in the right direction for Sigma, this bit of news also raises one small concern. With commercialization scheduled for fiscal 2014, it’s somewhat strange that SGLB is starting to work on this sort of enhancement so close to the expected launch. On the other hand, ‘fiscal 2014’ could mean a full year from now. The data sheets for the DEFORM, THERMAL and SENSOR PAK modules of PrintRite are still ‘in development’.
Despite the positive tone of the news release, the ticker closed red again. The previous trend of pulling back, then charting new highs has reversed into a one-day recovery spike followed by several red days bringing the price below its pre-spike level. SGLB dropped as low as $0.17 yesterday but managed to reverse the fall and remain relatively steady at $0.19 so another drop does not seem imminent.
The closest thing Sigma had to a rival on the OTC, Makism 3D Corp. (OTCBB:MDDD) – the 3D printing company that was pumped very recently, got smacked into suspension by the SEC on Friday due to ‘potentially manipulative transactions’ in MDDD stock, among other reasons.