{"id":5836,"date":"2015-06-02T14:11:54","date_gmt":"2015-06-02T14:11:54","guid":{"rendered":"\/?p=5836"},"modified":"2015-06-02T14:39:31","modified_gmt":"2015-06-02T14:39:31","slug":"veriteq-corp-otcmktsvteq-steamrolled-to-rock-bottom","status":"publish","type":"post","link":"\/articles\/veriteq-corp-otcmktsvteq-steamrolled-to-rock-bottom\/","title":{"rendered":"VeriTeQ Corp. (OTCMKTS:VTEQ) Steamrolled to Rock Bottom"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90298\/vteq_6m_450x350.png\" border=\"0\" \/>After a spasm of record share volume on Friday, the share price of VeriTeQ Corp. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VTEQ\">VTEQ<\/a>) slammed against rock bottom, stopping at $0.0001 by the closing bell. The company has not had a single green session since filing its quarterly report on May 20. Within this time, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VTEQ\">VTEQ<\/a> dropped some 66% to reach its last close.<\/p>\n<p>The company&#8217;s chart movement in 2015 has largely been a disaster. In our previous articles on the stock we mentioned what could potentially go wrong and a lot of what we warned about turned out to be even worse than we suspected.<\/p>\n<p>Here is the brief rundown of the company&#8217;s balance sheet published in its latest 10-Q:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$16 (sixteen US dollars) in cash<\/li>\n<li>$95 (ninety-five US dollars) in Q1 revenues<\/li>\n<li>$809 in Q1 net loss<\/li>\n<\/ul>\n<p>Granted, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VTEQ\">VTEQ<\/a> actually did grow its revenue against Q1 of 2014 by no less than twenty-one dollars. The laughable balance sheet is not the worst part of the story, however.<\/p>\n<p>The real issue with <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VTEQ\">VTEQ<\/a> is that the company diluted its shareholders by 5600% within the space of a 45 days. The company&#8217;s annual report stated there were <strong>30.8 MILLION<\/strong> outstanding common shares as of March 31. The new Q1 filing revealed that those shares increased to <strong>1.77 BILLION<\/strong> as of May 15.<br \/>Traders should also not forget that this mind-boggling dilution took place in the wake of a <strong>reverse split<\/strong> to the tune of <strong>1-for-1000<\/strong> shares with a February 2015 pay date. This means <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VTEQ\">VTEQ<\/a> managed to go down to $0.0001 after the 1000-fold increase in share price that goes with the reverse split.<\/p>\n<p>If those numbers have still not given you a headache, you may want to read through <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=VTEQ\">VTEQ<\/a>&#8216;s filings and press releases more thoroughly before making a decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a spasm of record share volume on Friday, the share price of VeriTeQ Corp. (OTCMKTS:VTEQ) slammed against rock bottom, stopping at $0.0001 by the closing bell. The company has not had a single&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1650],"class_list":["post-5836","post","type-post","status-publish","format-standard","hentry","category-news","tag-vteq"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=5836"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5836\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}