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On April 14 the stock of Advanced Medical Isotope Corp. (OTCMKTS:ADMD<\/a>) registered its current 52-week high of $0.0096. Maintaining such high price levels proved to be nearly impossible, however, and since then the ticker has been rather unstable. Yesterday the company suffered another harsh blow – at the end of the session the stock had wiped nearly 11% of its value, closing at $0.0065.<\/p>\n Even after this sizable loss ADMD<\/a> <\/strong>still commands a market cap of approximately $13 million. We will leave it up to you to decide whether this valuation is justified after taking a look at the financial report covering the quarter ended September 30, 2015 – back then ADMD<\/a> <\/strong>had:<\/p>\n • $7396 cash The financials found on the balance sheet are simply atrocious. And if you wondering why we are still relying on financial information that is now over 6 months old, well, the answer is quite simple – ADMD<\/a>‘s <\/strong>annual report for 2015 is still missing.<\/p>\n It was supposed to be filed by the end of March but through a notification of late filing ADMD<\/a> <\/strong>received a “grace” period of 15 days. We are currently over two weeks past even that deadline without any sign of the report and as a result the OTCMarkets profile page of the company was marked with the Pink Limited Information sign.<\/p>\n Apart from providing a more recent picture of ADMD<\/a>‘s <\/strong>financial results the annual report should have also allowed investors to see just how many fresh Series A shares have been issued in the past several months. Let’s remind you that last year ADMD<\/a> <\/strong>maxed out their authorized amount of 2 billion common shares and as a result they began using their Series A preferred shares, each of which can be turned into 1000 common shares provided there is sufficient room for the conversion.<\/p>\n In the first nine months of 2015 close to a million preferred A shares were issued as a conversion of $5.93 million of debt. Despite this significant reduction as of September 30, 2015, the company still had over $2.3 million in outstanding convertible notes. The conversions into preferred shares could continue for quite a while – at the end of March the authorized amount of preferred A shares was increased from 2.5 million to 5 million.<\/p>\n In a recent interview ADMD<\/a>‘s <\/strong>CEO stated that a new de novo application for the company’s Y-90 RadioGel device<\/em> will be submitted with the FDA in the third or fourth quarter of the year. This will be ADMD<\/a>‘s <\/strong>third attempt to receive marketing clearance for the product. As for their intentions to enter the veterinary oncology market in a PR published on April 22 it was announced that in the next 30 days product should be shipped for a study that is recruiting cats for the treatment of feline sarcoma.<\/p>\n
• $42,149 total current assets
• $8.8 million total current liabilities
• $12,054 revenues
• $2.5 million net loss<\/p>\n