{"id":6157,"date":"2015-07-04T13:11:25","date_gmt":"2015-07-04T13:11:25","guid":{"rendered":"\/?p=6157"},"modified":"2015-07-04T13:39:27","modified_gmt":"2015-07-04T13:39:27","slug":"why-did-positiveid-corp-otcmktspsid-crash","status":"publish","type":"post","link":"\/articles\/why-did-positiveid-corp-otcmktspsid-crash\/","title":{"rendered":"Why Did PositiveID Corp (OTCMKTS:PSID) Crash?"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90627\/fsadfafsdasf.png\" border=\"0\" width=\"426\" height=\"190\" \/>PositiveID Corp (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a>) managed to slide nearly 20% down the charts yesterday in a session of fevered selling &ndash; but why? <\/p>\n<p>Truth be told, at this point in time, asking why <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>got smashed to smithereens may be the wrong question entirely. A more appropriate question would probably be &ndash; how did it manage to retain its ground until now at all?<\/p>\n<p>A bit of due diligence reveals that the company&#8217;s financials for Q1, 2015 look simply atrocious:<\/p>\n<ul>\n<li>Cash &#8211; $598 thousand<\/li>\n<li>current assets &#8211; $608 thousand<\/li>\n<li>current liabilities &#8211; $9.7 million<\/li>\n<li>quarterly revenues &#8211; $131 thousand<\/li>\n<li>net loss &#8211; $3.8 million<\/li>\n<\/ul>\n<p>But, bad as it is, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a>&#8216;s <\/strong>working capital deficit of $9.1 million and accumulated deficit of over 136 million are probably not the biggest red flag that this filing can show.<\/p>\n<p>No, the most disturbing sign of trouble can be found at the very beginning of the report &#8211; as of May 11, 2015 <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>had 262 million shares outstanding. Just to put things into perspective &#8211; as of November 10, 2014, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>had 159 million shares outstanding.<\/p>\n<p>All of these shares were issued as a result of conversions of promissory notes with toxic conversion provisions lowering the prices of said shares to an average price of of about $0.013. Investors should take a moment to punch those numbers into a calculator and consider the results that come out when they draw the line.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90627\/fasdfs.jpg\" border=\"0\" width=\"155\" height=\"52\" \/>And after doing so, they might also want to think on the fact that the company has a lot more outstanding debt, and that it has <span style=\"color: #ff0000;\"><strong>increased its authorized shares from 970 million to 1.97 BILLION, and that it has been the target of multiple paid pump campaigns recently.<\/strong><\/span><\/p>\n<p>Under these circumstances is it really any wonder that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>is currently dropping like a rock?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PositiveID Corp (OTCMKTS:PSID) managed to slide nearly 20% down the charts yesterday in a session of fevered selling &ndash; but why? Truth be told, at this point in time, asking why PSID got smashed&#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":[101],"class_list":["post-6157","post","type-post","status-publish","format-standard","hentry","category-news","tag-psid"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6157","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=6157"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6157\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}