“Bad Boys, Bad Boys Watcha gonna do, Watcha gonna do when they come for you.” Yes, the theme song from COPS is fitting since COPsync Inc. (OTC: COYN), a company that markets a real-time information sharing for law enforcement agencies, has doubled in the last 5 trading sessions. COYN stock was just .07 a week ago and has jumped as high as .16 since reporting positive Q1 earnings on Monday.
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COYN Stock Chart:
Market Cap: 21.52M
(May 1, 2012): 0.20
(Dec 14, 2011): 0.05
Avg Vol (3 month): 60,991
Avg Vol (10 day): 112,112
Shares Outstanding: 148.40M
% Held by Insiders: 44.59%
Filed on May 21st, COPsync reported Q1 revenues of $741,871, an increase of 91.27% compared to $387,866 for the same period the year before. Gross profit decreased by -28.5% to $78,156 compared to $109,307 for the same period the year before. Net loss reported for Q1 $961,131 compared to $797,333 for the same period the year before. As of March 31, the Company had cash and cash equivalents of approximately $440,936, a working capital deficit of approximately $977,164 and an accumulated deficit of $11,465,512.
As of May 18, 2012, the Company obtained written subscriptions for new capital approximating $1.85 million. The subscriptions were for a unit consisting of five shares of COYN common stock and one warrant to purchase another share of COYN common stock, at a purchase price of $0.50 per unit. The exercise price of the warrants is $0.10 per share of common stock and the warrants will expire four years from the issuance date. With these subscriptions and other foreseeable funding sources, the Company believes they will have adequate cash resources for the next 12 months.
About COYN Stock:
COPsync, Inc. sells its service, which is a real-time, in-car information sharing, communication and data interoperability network for law enforcement agencies. The COPsync service enables patrol officers to collect, report and share critical data in real-time at the point of incident and obtain instant access to various local, state and federal law enforcement databases. The COPsync service also eliminates manual processes and increases officer productivity by enabling officers to electronically write tickets, process DUI and other arrests and document accidents and other incidents.
The service saves lives, reduces unsolved crimes and assists in apprehending criminals through such features as a nationwide officer safety alert system, GPS/auto vehicle location and distance-based alerts for crimes in progress, such as child abductions, bank robberies and police pursuits.
To view the SEC filings for COYN, click here.
Bottom Line: COPsync’s penny stock had a nice bounce from a .07 recent low after just reaching a 52 week high in the beginning f the month at .20. Is COYN going to be the next 10-bagger, absolutely not but, it is a good company with a niche market and a necessary product that will be around for many years to come assuming there are no technical issues and they can continue to advance their technology.
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