Claiming that their penny stock price is lower than it should be, IDenta Corp. (OTC Pink: IDTA.PK) CEO Yaacov Shoham released their 2011 financial report. Nearly a year ago the company’s drug test kits were used by Israeli Law Enforcement and Customs Officials to bust a 250 kg shipment of cocaine from Columbia.
The pink sheets listed stock is planning to comply with all OTCMarkets’ requirements in order to change the status of IDenta. Taking the necessary steps required to properly reflect the current developments in the company’s global marketing and sales would more accurately reflect the real situation and perhaps attract investors.
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IDTA reported a 68.96% increase in annual revenues for the year ended December 31, 2011 along with positive growth in Cash and Current Receivables.
IDTA traded a mere 687,750 shares in the last session, roughly 30% of the 200-Day average volume, to close at $0.009.
A few weeks ago, IDenta’s American marketing partner, Oximeter Plus, has been hitting the convention circuit with excellent results according to the company’s press release. The Oximeter marketing team established relationships with nearly 500 principals, school administrators, etc. at the following 2 conventions;
- NASSP – National Association of Secondary School Principals – Tampa, Florida, March 8-10, 2012.
- ASCD – Association for Supervision and Curriculum Development – Philadelphia, Pennsylvania, March 24-26, 2012.
The General Screening drug detector kit and for the Marijuana kit appear to be the company’s products that had the highest level of interest which Identa claims to already be supplying detectors as a result of the two conventions.
IDenta’s entire product line may be found at
Bottom Line: For the first time, high schools and colleges in the U.S. are able to use drug detectors and IDTA makes the only detectors that instant results with no false positives. Could the cocaine bust in Israel and drug detector kits in U.S. schools be the beginning of a surge in share price for the penny stock?
Well, total shares outstanding, market capitalization and share float data is nearly impossible to determine considering the reporting method of IDenta. Upon further review of that data, it would be much easier choice to make to either buy, sell or pass on the penny stock.