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Yesterday Integral Technologies, Inc (OTCMKTS:ITKG<\/a>) announced entering into a Joint Technology Assessment Program with Advanced Battery Concepts. The goal is to evaluate the performance, efficacy and cost efficiency of ITKG<\/a>‘s <\/strong>ElectriPlast <\/em>bi-polar plate when used in the existing architecture of ABC GreenSeal 12V battery.<\/p>\n The PR definitely got investors excited – the number of traded shares during yesterday’s session nearly doubled the monthly average for the company. The intense buying pushed ITKG<\/a> <\/strong>nearly 10% up the chart to a close at $0.201 per share. ITKG<\/a> <\/strong>has made similar jumps a few times already in the past couple of weeks but holding on to the gains has proved to be rather difficult.<\/p>\n Well, the reason for this can be easily found in the latest quarterly report. ITKG<\/a> <\/strong>finished the period ended December 31, 2015, with:<\/p>\n • $282 thousand cash The current financials of the company simply cannot justify ITKG<\/a>‘s <\/strong>market cap of nearly $25 million. Not to mention that compared to the same quarter in 2014 the reported revenues are down by more than 50%. For the six-month period the incurred net loss is of more than $2 million.<\/p>\n According to the OTCMarkets profile page of the company as of April 1 ITKG<\/a> <\/strong>had over 122 million outstanding shares out of the 150 million authorized. The O\/S could continue to grow – at the end of last year more than $325 thousand in convertible debentures were still outstanding while in January, this year, a new $75 thousand note was sold. The holders of these notes can turn them into common shares at discounts ranging from 25% to 37%.<\/p>\n
• $329 thousand total current assets
• $1.68 million total current liabilities
• $30 thousand revenue
• $993 thousand net loss<\/p>\n