Shares in the penny stock of Sigma Labs, Inc. (SGLB) soared today after announcing that the first module of PrintRite3D™ will be available in a few weeks. The Company’s products that allows for higher quality 3D-printing of metal parts, PrintRite3D™, is looking to increase its presences in the aerospace, defense, oil and gas, and biomedical markets. The news sent SGLB stock to a new 2012 high having now gained 357% from their valentine’s Day low, 0.0035.
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SGLB Stock Chart
Market Cap: 4.11M
Close: 0.016, up 0.0064 (66.67%)
Dollar Volume: $61,892
Average Trade Size: 32,614
Issued and Outstanding: 427,667,400
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According to Mark Cola, the President of Sigma Labs, PrintRite3D™ will reduce manufacturing expenses and virtually eliminate costly post-manufacturing inspections. The overall industry of 3d printing is currently dominated by the making of plastic parts with growth of precision-made metal parts quickly catching up at a pace of double digit percentages. The news Monday was just a part of what the multi-subsidiary tech company has up its sleeve.
In February, their wholly-owned subsidiary Sumner Associates, Inc., secured $533,000 in new contracts with the DOE, Department of Energy, all of which were scheduled to be realized this year. Damon Giovanielli, President of Sumner Associates and former Director of Physics at Los Alamos National Laboratory stated that another potential $3.7 million in contracts for additional new orders could also be realized in support of the US Strategic Weapons Program with various National Laboratories including Los Alamos, Livermore, Sandia, Brookhaven, and the Nevada Test Site.
That half million dollars plus in contracts should impact the Q3 and Q4 results since during the 3 and 6 months ended June 30, 2012, Sigma Labs booked revenues of $107,633 and $193,725, respectively, versus $243,474 and $300,513, respectively, during the same periods in 2011. The revenues were primarily booked from consulting services Sigma and their wholly owned subsidiaries provided to third parties. More importantly, their cash levels as of June 30, $303,948 in cash and a working capital surplus of $316,407, should allow them to have no need to dilute stock.
For the six months ended June 30, 2012, Sigma Labs had the following changes to their capital stock structure:
- 5,000,000 shares of SGLB stock issued for consulting services (0.01 per share)
- 7,000,000 unvested shares of SGLB stock were cancelled, and deferred compensation was reduced by $140,000, or $0.02 per share
- 3,750,000 shares vested relating to the Company’s Equity Incentive Plan, reducing deferred compensation by $75,000
As of August 8, 2012, B6 Sigma has 3 active consulting contracts which should bring in $400,000 in revenues in fiscal 2012 while Sumner has 6 active consulting contracts which should bring in $250,000 of revenues in fiscal 2012. La Mancha has no active consulting contracts.
About SGLB Stock
Sigma Labs, Inc. (f/k/a Framewaves, Inc.) together with B6 Sigma, Inc., Sumner & Lawrence Limited (dba Sumner Associates) and La Mancha Company, three wholly owned subsidiaries of the Company, specializes in the development and commercialization of novel and unique manufacturing and materials technologies. A Company trademark through B6 Sigma, In Process Quality Assurance (IPQA®), is a technology that management believes will fundamentally redefine manufacturing practices by embedding quality assurance in the manufacturing processes in real time.
In addition, the Company anticipates that its core technologies will enable its clientele to combine advanced manufacturing protocols with novel materials to achieve breakthrough product potential in many industries including aerospace, defense, oil and gas, prosthetic implants, sporting goods, and power generation.
Click here to view the SEC filings for SGLB.
Bottom Line: Today’s surge in the penny stock of Sigma Labs, SGLB, should allow for a pull back tomorrow for those who didn’t get a chance to get in long. With less shares outstanding compared to the start of the year, further advancement of the Company’s subsidiaries in the contract arena could send SGLB stock past their 52 week high, 0.0179, which they almost surpassed Monday.
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