It’s beginning to look like the “Ice Age” the penny stock of the cold chain frozen shippers, CryoPort Inc. (CYRX), may finally have begun to thaw out after a year. After sliding down for nearly a year already from 1.24 back on November 7, 2011, CYRX stock has bounced of its lowest price in over three years earlier this month gaining 10 cents since, 71%. The bounce appears to have been triggered by the 3 million shares that were added to the Company’s 2011 Stock Incentive Plan — gotta love when insiders get involved.
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CYRX Stock Chart
Market Cap: 9.06M
Close: 0.24, up 0.05 (26.32%)
Dollar Volume: $
Average Trade Size: 6,390
Issued and Outstanding: 37,760,628
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At present, shipping costs and other expenses associated with generating revenues are killing CryoPort’s chances at generating positive gross numbers. Revenues for the three months ended June 30, 2012 were $191,299 with costs of $353,618 to generate those revenues. At the very least, Revenues increased by 54.58% compared to the previous period, $123,751, while costs to generate them was slightly higher, $354,280. It’s a niche business to say the least, and they addition of Jerrell W. Shelton to the Board (see here) should bring on some fresh perspectives from the Harvard grad on getting the company in the black.
That said, they hadn’t diluted their stock during Q2 while wiping off all the convertible debt they carried on their books at the end of Q1. However, with losses of $1,545,807 and $2,053,854 for Q1 and Q2, respectively, there is only so far the Company will be able to stretch the $2,971,567 they had in cash as of June 30, 2012. Since the Company leases to FedEx (FDX) and DHL its cryogenic shipper, CryoPort Express® Dry Shipper, one can only hope for more PED testing to occur this baseball off-season once the Giants beat the Tigers and learn from the mistakes they made with Ryan Braun’s pee.
About CYRX Stock
CryoPort, Inc. is a provider of an innovative cold chain frozen shipping system dedicated to providing superior, affordable cryogenic shipping solutions that ensure the safety, status and temperature of high value, temperature sensitive materials. The Company has developed cost-effective reusable cryogenic transport containers capable of transporting biological, environmental and other temperature sensitive materials at temperatures below -150° Celsius. These dry vapor shippers are one of the first significant alternatives to using dry ice and achieve 10-plus day holding times compared to one to two day holding times with dry ice.
Click here to view the SEC filings for CYRX.
Bottom Line: CYRX is a penny stock only for the “long and strong” who have the time and patience to be able to withstand another Ice Age if they anticipate seeing $1 plus. CYRX is worth a look and worth some attention.
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