Cheap OTC Stocks: PostiveID Corp. (PSID) Getting Cheaper

Shares in the penny stock of PositiveID Corp. (OTC: PSID), an emerging developer of advanced technologies for diabetes management and sophisticated airborne bio-threat detection systems for America’s homeland defense, have dropped -44.44% YTD. The penny stock, PSID,  is set to open today’s trading session at $0.075, nearly 2 cents lower than yesterday’s open.

One glimmer of hope to end this week of losses is that they announced prior to the open that their FDA-cleared iglucose mobile health system for diabetes management is set to be featured at the CTIA Emerging Technology Awards Showcase in May.  PSID‘s hope and a prayer money-maker, iglucose,  is to be showcased within the category entitled Enterprise & Vertical Market Solution: Healthcare & Wellness.

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PSID Stock Snap Shot:

Market Cap: 8.07M
52-Week High
(May 2, 2011): 0.4601
52-Week Low
(Apr 13, 2012): 0.071
Avg Vol (3 month): 455,456
Avg Vol (10 day): 642,875
Shares Outstanding: 107.65M
Float: 58.58M
% Held by Insiders: 20.69%

The company’s FDA-cleared iglucose uses mobile technology to revolutionize the way individuals with diabetes manage their condition. It would be nice for shareholders if the FDA-cleared iglucose could revolutionize the top-line for PSID.

With $0 revenues for the year ended December 31, 2011 and operating expenses of over $16 million, they better hope that every single diabetic in the world purchases an igluclose or PSID is going to wind up a-closed.

To view the SEC filings for PSID, click here.

Bottom Line: Go ahead, add PSID to your list of penny stocks to watch and play the momentum from the pumpers. This stock is crap. The volume is crap and the chances of PSID seeing $0.4601 again are about 4601:1.

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