INHC | Bags Of Despair Are Coming For Innolog Holdings

INHCHeading into Wednesday’s trading session, the penny stock of Innolog Holdings Corporation (INHC) had a market cap of 79.17K, less than 10% of their Q1 revenues. After getting put into the trading Circle thanks to some opening bell alerts, INHC stock absolutely ignited to throw up intraday gains of over 566%. Although net income or a healthy balance sheet are years away for the provider of services primarily to federal government entities, the ignition coil may have sparked enough interest to keep this sporadic trader trading for another session.

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INHC Stock Quote

Market Cap: 508.14K
Close: 0.0276  ▲ +0.0233 (+541.86%)
Volume: 4,991,053
Dollar Volume: $125,876
Open: 0.0065
High: 0.04
Low: 0.006
Trades: 413
Authorized: 200,000,000
Issued and Outstanding: 18,410,831
14-Day Rel Strength: 35.16%
1st Resistance Point: 0.0043
1st Support Level: 0.0091

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Ending the trading session as the 20th most traded OTC listed stock is likely to be the highlight of the year for Innolog Holdings and INHC stock. Hemorrhaging debt is weighing down Innolog’s balance sheet so heavily that a total asset to current debt ratio of 1:16.67, $751,637 to $12,530,830 is simply unmanageable for any type of investor to dig in their heels and go long on this puppy.

For the 3 months ended March 31, 2013, Innolog booked revenues worth $1,056,450 versus $1,187,803 for the same period in 2012. Despite the slight decline, the company is coming off a year when revenues grew by $332,372, almost 7%, from $4,770,738 for the year ended December 31, 2011 to $5,103,110 for the year ended December 31, 2012.

The worst thing about INHC from a traders POV is that, although it has a 2 year pus trading history, it only traded in 17 sessions since May 1, most of which was in May. The other negative aspect of having held INHC stock overnight is that it hadn’t traded over 250,000 shares since December, 2012.

With net losses of ($4,885,690) and ($3,027,789) for the last 2 years, respectively, and ($905,938) in net loss reported for Q1, the chances of the company even being able to pay off the March 31 balance of $5,046,099 in delinquent payroll taxes, including estimated penalties and interest related to payroll taxes withheld since December 31, 2009, is in serious doubt unless some INHC stock gets diluted quick smart.

About INHC Stock

Innolog Holdings Corporation, through its wholly owned subsidiaries, is a holding company focused on acquiring companies that provide services primarily to federal government entities.

Click here to view the SEC filings for INHC.
Click here to view the website for Innolog.

Last 5 Trading Sessions:

Date Last Change Volume
07/24/13 0.0043 unch unch 2,600
07/19/13 0.0043 unch unch 22,000
07/18/13 0.0043 +0.0001 +2.38% 15,000
07/17/13 0.0042 +0.0001 +2.44% 9,000
07/15/13 0.0041 unch unch 26,800


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Bottom Line:

Today’s big gainer in penny stocks is tomorrow’s big loser. INHC cold have such tremendous potential if it wasn’t for all of the debt outstanding and exercisable warrants (85,012,259) and stock options (10,763,000). The best thing about INHC stock is that not too many traders likely held overnight to get left in the bag holding Circle come Thursday.

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