{"id":6730,"date":"2015-09-02T13:14:37","date_gmt":"2015-09-02T13:14:37","guid":{"rendered":"\/?p=6730"},"modified":"2015-09-02T13:39:33","modified_gmt":"2015-09-02T13:39:33","slug":"positiveid-corp-otcmktspsid-goes-through-a-hiccup","status":"publish","type":"post","link":"\/articles\/positiveid-corp-otcmktspsid-goes-through-a-hiccup\/","title":{"rendered":"PositiveID Corp (OTCMKTS:PSID) Goes Through a Hiccup"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91202\/psid_chart.png\" border=\"0\" width=\"450\" \/>After a strong finish last week, with PositiveID Corp (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a>) climbing just over 9%, the stock retreated in Monday&#8217;s session. The red session saw <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> close at $0.027 per share on even heavier volume of over 5.8 million shares changing hands yesterday.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> is a tech company, working in the field of biological detection, with a focus on real-time analysis and rapid results. <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> published its quarterly report in mid-August. Here is the brief version of the filing&#8217;s balance sheet:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$672 thousand in cash<\/li>\n<li>$10.8 million in current liabilities<\/li>\n<li>$51 thousand in Q2 revenues<\/li>\n<li>$2.9 million in Q2 net loss<\/li>\n<\/ul>\n<p>The company previously received sizable amounts of government grant money and did work for the Department of Defense. The report states that the company &#8216;expects&#8217; to recognize as revenue $2.5 million under a Boeing agreement but doesn&#8217;t mention when it expects to do that.<\/p>\n<p>The 10-Q was followed by an 8-K filing, which disclosed the signing of a new $2.4 million financing. The convertibles Dominion Capital LLC received against its money can be turned to shares without a fixed discount, but at a fixed rate, at $0.028 per share. The potential conversion of that sum into shares priced at under three cents apiece can result in rather a lot of new common stock being issued.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> is not exactly shy when it comes to dilution. Between early May and early August the company&#8217;s outstanding common shares went up 33%, from 262 to 350 million.<\/p>\n<p>Thankfully, the stock pumps targeting <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> have stopped coming. The last couple of promoter emails for <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> were dated Aug 10, one of them disclosing a hefty 1,300,000 shares paid to advertise the stock, and paid directly by the company itself.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a strong finish last week, with PositiveID Corp (OTCMKTS:PSID) climbing just over 9%, the stock retreated in Monday&#8217;s session. The red session saw PSID close at $0.027 per share on even heavier volume&#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-6730","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\/6730","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=6730"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6730\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}