Imaging Diagnostic Systems (OTC: IMDS), a manufacturer of mammography technology, jumped nearly 12% today, closing at $0.0019. It posted a $0.0002 increase over yesterday’s closing stock price. At this morning’s opening bell, the stock was at $0.002 and dropped to $0.0017 before settling at $0.0019. The company’s highest price in the past year came on August 10, 2011, when the stock reached $0.0225. The price stayed around $0.02 for almost two weeks before dropping slowly. The stock price reached its lowest point, at $0.0002, on May 31, 2012. However, the stock has turned around for the time being and has been quickly climbing since June 29, 2012. Since July 5, 2012, the stock has climbed nearly 300%, from $0.0005 to $0.0019.
Volume also skyrocketed today, tripling its daily average of more than 93.4 million shares. Nearly 278 million shares were traded today. Although this may seem like an astronomical number, Imaging Diagnostic Systems’ 52-week high for volume came on June 6, 2012, when volume exceeded 437.1 million shares. Volume has consistently been in the hundreds of millions since early May 2012.
Imaging Diagnostic Systems, based in Fort Lauderdale, Florida, is known for its Computed Tomography Laser Mammography Device Model 1020. This device uses imaging technology to discover signs of breast cancer earlier than devices currently in use. It uses no radiation. Instead, it uses a laser light to create 3-D images. Also, because the device never touches the breast, it is more comfortable and less painful than current devices. The Model 1020 is not currently approved by the Food and Drug Administration for use in the United States, but Imaging Diagnostic Systems does have approval to market the product in other countries, including Australia, Mexico and several countries within Europe and Asia.
Imaging Diagnostic Systems recently announced its earnings report for the first quarter of 2012, which ended March 30, 2012. The company has been performing much better than the previous quarter. In the first quarter of 2012, the company reported revenue of $163,000, compared to $10,000 in the previous quarter, which ended on December 30, 2011. The operating loss was at $550,000, compared to $1.05 million the previous quarter. The company’s net loss was at $316,000, compared to the $869,000 reported in the previous quarter.
This hot penny stock has been heavily promoted for the past two weeks. Will Imaging Diagnostic Systems continue climbing and making huge gains? It’s been one of the biggest gainers recently and many investors are surely anxious to see how it performs in the long run. Hopefully its upward trend will continue.
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