Banking on the growing population of the baby boomers has proven, in many cases, to have been a winning formula for picking good stocks. One particular medical device company, ProUroCare Medical Inc. (PUMD), is a penny stock which only savvy traders have been able to put a finger on thus far. With the shares of PUMD stock just bouncing off a 52 week low on October 10, 0.30, its amazing no one can see that the most recent 8-K exposes a potential 100% plus upside on the male urological prostate disease focused company.
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PUMD Stock Chart
Market Cap: 8.38M
Last: 0.48, no change
Average Trade Size: 8,750
Issued and Outstanding: 17,458,764
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So I just turned 40 myself a few weeks ago and cringe at the thought of a prostate exam thinking all the doctors performing them are gonna be like Dr. Van Helsing from Cannonball Run. Yet after reading the 8-K filed on October 2 (see here), it is easier to consider dropping them, turning my head to the right and coughing.
The Company amended the maturity date of a $300,000 convertible subordinated promissory note with an individual investor. Pursuant to an extension agreement with the lender, the Company agreed to reduce the conversion price of the note from $1.30 per share to $1.00 per share in consideration for a one year extension of the promissory note’s maturity date. So at 0.48, that’s a double no brainer.
PUMD will be a spotlighted company in the near term just like OncoSec Medical (ONCS) is now which was an undiscovered gem until we profiled them in June. Prostate cancer is the most common form of cancer and the second leading cause of cancer death in men. The current standard of care is to screen for the presence of prostate cancer beginning at age 50, normally as part of the patient’s annual physical exam.
ProUroCare Medical’s ProUroScan™ prostate imaging system was designed to produce an elasticity image of the prostate as an adjunctive aid in visualizing and documenting abnormalities in the prostate that have been detected by digital rectal examination. The system’s breakthrough technology provides cost-effective, high-quality images in real-time. Just remember, they get paid to stick thinks in the exit-only door and if you should just once run your fingers through your doctor’s hair to make the procedure be less intrusive, don’t freak out when they don’t use any of the TenGuy World International (TGWI) GunOil next time.
About PUMD Stock
ProUroCare Medical Inc. is engaged in the business of developing for market innovative products for the detection and characterization of male urological prostate disease. The primary focus of the Company is currently the ProUroScan™ prostate imaging device, which is designed to produce an elasticity image of the prostate as an adjunctive aid in visualizing and documenting abnormalities of the prostate that have been detected by digital rectal examination.
The Company’s developmental activities, conducted by its wholly owned operating subsidiary, ProUroCare Inc., have included the acquisition of several technology licenses, the purchase of intellectual property, the development of a strategic business plan and a senior management team, product development and fund raising activities. Through its development partner, Artann Laboratories, Inc., clinical trials of the ProUroScan™ were completed allowing, as of April 27, 2012, the ProUroScan™ to receive clearance from the Food and Drug Administration for marketing in the United States.
Click here to view the SEC filings for PUMD.
Bottom Line: PUMD is another medical device making penny stock like ONCS that is worth adding to the list to watch. Since the beginning of this article which began at 12 noon, PUMD stock already jumped 66.67% on 26,200 shares traded. Someone has has their tin foil hat on.
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