When you make a statement saying that you’re expecting to report your first profitable quarter in the upcoming 10-Q and that there’s no long-term debt, your stock price is going to rise. That’s exactly the case today on the penny stock of Health Discovery Corporation (HDVY) even though CEO Stephen D. Barnhill, M.D. has resigned. The change at the helm has not been harmful to HDVY stock as it bounces off its 52 week low set last week: 0.0401.
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HDVY Stock Chart
Market Cap: 15.80M
Last: 0.0679, up 0.0185 (37.45%)
Volume: 363,113
Dollar Volume: $22,840
High: 0.0679
Low: 0.05
Trades: 25
Average Trade Size: 14,524
Authorized: 300,000,000
Issued and Outstanding: 232,299,810
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Becoming profitable was the course Health Discovery was on already just by having a glance at their Q2 numbers compared to the same period in 2011. Revenues were $276,437 and $562,066, respectively, for the three and six months ended June 30, 2012, nearly 10 times those of the same periods in 2011: $28,509 and $57,017, respectively.
The additional bonus of having no long term debt is a welcome addition to shareholders who have been holding on tight to HDVY stock since their master license agreement signed to start the year with NeoGenomics Laboratories, Inc., a wholly-owned subsidiary of NeoGenomics, Inc.
The agreement which lead to the rise in revenues granted NeoGenomics Laboratories and its affiliates an exclusive worldwide license to certain of the Company’s patents and know-how to use, develop and sell products in the fields of laboratory testing, molecular diagnostics, clinical pathology, anatomic pathology and digital image analysis (excluding non-pathology-related radiologic and photographic image analysis) relating to the development, marketing production or sale of any Laboratory Developed Tests or other products used for diagnosing, ruling out, predicting a response to treatment, and/or monitoring treatment of any or all hematopoietic and solid tumor cancers excluding cancers affecting the retina and breast cancer.
About HDVY Stock
Health Discovery Corporation is a biotechnology-oriented company that has acquired patents and has patent pending applications for certain machine learning tools, primarily pattern recognition techniques using advanced mathematical algorithms to analyze large amounts of data thereby uncovering patterns that might otherwise be undetectable. The Company licenses the use of its patented protected technology and may provide services to develop specific learning tools under development agreements or sell to third parties.
Click here to view the SEC filings for HDVY.
Bottom Line: HDVY was a depressed penny stock up until today and has some new life now that news of a profitable quarter is due to come out. HDVY stock is a classic “buy on rumor, sell on news” play which should hold its momentum up until the 10-Q filing. From there, a dip may provide a chance for a cheap entry again if the momentum allows for the money maker to head back towards its 0.135 52 week high.
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