{"id":2584,"date":"2013-09-19T15:11:20","date_gmt":"2013-09-19T15:11:20","guid":{"rendered":"\/?p=2584"},"modified":"2013-09-19T15:12:04","modified_gmt":"2013-09-19T15:12:04","slug":"codesmart-holdings-inc-otcbbiten-cuts-another-fifth-of-its-value","status":"publish","type":"post","link":"\/articles\/codesmart-holdings-inc-otcbbiten-cuts-another-fifth-of-its-value\/","title":{"rendered":"CodeSmart Holdings Inc (OTCBB:ITEN) Cuts Another Fifth of Its Value"},"content":{"rendered":"

\"3ITENchart.png\"It seems that CodeSmart Holdings Inc. (OTCBB:ITEN<\/a>) is going further down despite its own PR efforts. Yesterday the stock bombed by another 20% to close at it lowest point of the day – $2.3 Although such a price level is quite high for a pennystock the company has lost a significant portion of its value. At the start of the month they traded for $4.5 per share while in July they were hovering at $7. <\/p>\n

The company has a rather unique business plan among publicly traded companies – they offer education and training in the new international ICD-10 system of coding. All healthcare providers in the USA are presently using the old ICD-9 system and will have to switch over before October 1, 2014. ITEN<\/a> are going to attract possible clients through their CODESMART UNIVERSITY, an on-line education platform.<\/p>\n

Their CEO is so enthusiastic about their future that he expects by the end of the year revenues amounting to $6 million and net income of $2 million. That is why we are eagerly awaiting the next financial report to be filed because the numbers for the previous one are far from encouraging:<\/p>\n