Sigma Labs Inc (OTCMKTS:SGLB) Moves Up on News
After pulling ahead on the charts in mid-September on another positive news release, yesterday Sigma Labs Inc (OTCMKTS:SGLB) ripped up the charts on massive volume. By the closing bell SGLB was over 13% up on a fresh news release, with volume peaking at its monthly high at 4.4 million shares changing hands.
The push that propelled SGLB up the charts was the launch announcement for DEFORM – the previously delayed module of Sigma’s PrintRite3D system. This module enhances the company’s INSPECT module and acts together with it in Sigma’s unique approach to quality assurance. The company’s PrintRite3D is a system that does in-process QA, seeking out any defects or irregularities in the printed part on the go, as it’s being constructed, instead of the more traditional post-production examination, effectively saving a lot of time and money.
The module should be installed for field use at Honeywell Aerospace this month.
Here is what SGLB‘s last financial report looked like in a nutshell:
- $2.2 million in cash
- $144 thousand in current liabilities
- $196 thousand in Q2 revenues
- $440 thousand in Q2 net loss
The revenues recorded are still derived from service contracts, as full commercialization of PrintRite3D has not happened yet. However. the launch of the DEFORM module is one of the last big steps in that direction.
With Sigma previously announcing its OEM program and early adopter incentive, the big names in additive manufacturing now have the option of testing the company’s in-process QA system and choosing to implement it in their own machines. According to Sigma’s in-house estimations, revenues in 2016 should get a considerable boost from early adopters signing on.