{"id":7979,"date":"2016-05-27T14:02:04","date_gmt":"2016-05-27T14:02:04","guid":{"rendered":"\/?p=7979"},"modified":"2016-05-27T14:14:48","modified_gmt":"2016-05-27T14:14:48","slug":"positiveid-corp-otcmktspsid-jumps-on-zika-announcement","status":"publish","type":"post","link":"\/articles\/positiveid-corp-otcmktspsid-jumps-on-zika-announcement\/","title":{"rendered":"PositiveID Corp. (OTCMKTS:PSID) Jumps On Zika Announcement"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/93\/93622\/vxzcvxz.png\" border=\"0\" width=\"433\" height=\"193\" \/>PositiveID Corp. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a>) more than doubled its market cap yesterday, as a direct result of announcing that it has successfully detected the Zika virus on its Firefly Dx polymerase chain reaction. <\/p>\n<p>This is, of course, excellent news, and truth be told, investors were right to be excited that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>is taking steps in the right direction. Still, does this turn of events really warrant the 113.56% jump it triggered?<\/p>\n<p>It&#8217;s hard to be the judge of that. On one hand, this turn of events opens up a whole new world of opportunities for profit for <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a><\/strong>, and once more differentiates it from all the other idle OTC Markets pharmaceutical companies that simply aren&#8217;t going anywhere.<\/p>\n<p>Unfortunately, while the recent news is good, there is a good reason why <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a><\/strong> was stuck in triple zero obscurity until this recent developments launched it up the charts again. Put quite simply, the company&#8217;s science might have checked out this time, but its other achievements to date fail to impress:<\/p>\n<ul>\n<li>Cash &#8211; $262 thousand<\/li>\n<li>Total Current Assets &#8211; $1.9 million<\/li>\n<li>Total Current Liabilities &ndash; $14.9 million<\/li>\n<li>Quarterly revenues &#8211; $1.6 million<\/li>\n<li>Quarterly net loss &#8211; $3.9 million<\/li>\n<\/ul>\n<p>True, unlike most other companies in the branch, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>is making revenues. However, it is also racking tons of losses each quarter and is struggling with crippling debt, no small amount of which is toxic.<\/p>\n<p>That&#8217;s a big deal, especially since some of said notes have provisions allowing them to convert at prices as low as &ldquo;<em>62.5% of the lowest VWAP during the 15 Trading Days immediately prior to the applicable amortization date<\/em>&rdquo;, or even &ldquo;<em>55% of the lowest VWAP during the thirty (30) Trading Days immediately prior to the applicable Conversion Date<\/em>&rdquo;.<\/p>\n<p>Suffice it to say that there is a good reason why this company&#8217;s market cap was approximately $3 million before it attracted the investors&#8217; attention. Simply put &ndash; its share issuance shenanigans have put a lot of stress on investor value, investor trust and confidence. A quick check reveals that mid March 2015, there were 221 million shares of <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>common stock outstanding. Fast forward to one year later, and that number has ballooned all the way to 565 million. Need we say more on the matter?<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/93\/93622\/vxzcvxcvz.png\" border=\"0\" width=\"117\" height=\"39\" \/>Long story short &ndash; the news about <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PSID\">PSID<\/a> <\/strong>may be good, but a diligent look at its financials reveals that the company&#8217;s shortcomings are legion. Investors should note that well, and beware.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PositiveID Corp. (OTCMKTS:PSID) more than doubled its market cap yesterday, as a direct result of announcing that it has successfully detected the Zika virus on its Firefly Dx polymerase chain reaction. This is, of&#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-7979","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\/7979","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=7979"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7979\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}