If iHub required a second grade multiple choice quiz in order to start an account, there would be a lot less people on it. Since they, like Facebook, do not, the possibilities are endless for Applied DNA Sciences (APDN) and their DNA-based anti-counterfeiting security solutions. Proving that theory, APDN stock has gained 112% this month and looks to keep that going after reporting their Q2 numbers.
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APDN Stock Chart
Close: 0.0685, up 0.0125 (22.32%)
Issued and Outstanding: 639,700,011
Yesterday, the Company issued an announcement confirming rumors that they had been named by DoD Defense Logistics Agency as the provider of authentication services for microcircuits supplied by defense contractors. Requiring the use of SigNature® DNA marking on microcircuits, the confirmation was posted on August 3rd by the agency on their DLA Internet Bid Board System (DIBBS).
What’s the deal worth? It’s unclear at present since immediately after the posting, numerous companies affected by the new requirements for DNA authentication marking on items falling within Federal Supply Class (FSC) 5962, Electronic Microcircuits, which have been determined to be at high risk for counterfeiting. The total number affected: In the hundreds, and includes many of the largest microcircuit manufacturers in the world.
This is a huge boost for the tech company that just reported an increase in revenues of 130% to $528,574 versus $229,710 for the same period last year, a new quarterly high. On track to break $2 million in revenues for the first time ever, Applied DNA Sciences has booked $1,563,880 in revenues for the fiscal nine months ended June 30, 2012 versus $687,970 for the same nine month period in fiscal 2011.
One bit of concern has been the conversion of debt in the last nine months to the tune of about 4 million shares. Additionally, last week the Company closed a private placement selling 8,265,683 shares of its common stock at 0.04336 per share to “accredited investors.”
About APDN Stock
Applied DNA Sciences Inc. is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA, SmartDNA, Cashield™, DNANet™, BioMaterial™ Genotyping and digitalDNA™, our principal anti-counterfeiting product authentication and crime prevention solutions, can be used in numerous industries, including but not limited to cash-in-transit (transport and storage of banknotes), textiles and apparel, semiconductors, identity cards and other secure documents, pharmaceuticals, wine, and luxury consumer goods.
To view the recent 10-Q SEC filing for APDN, click here.
Bottom Line: APDN is a pretty good looking penny stock. I like raw data that can be processed to prove something and seeing how revenues grow for the quarter by 130%, while G&A remained roughly in-line with the previous quarter, its easy to see that they are headed in the right direction and not trying to take the piss.
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