Shares of InfoLogix Inc. (NASDAQ: IFLG) jumped more than 100% in today’s trading. The small cap stock reached a high of $6.85 in today’s trading and at last check was up by 89.33% to $5.68, with volume up from daily average of 18,000 to 576,591. Hatboro, Pennsylvania-based InfoLogix Inc. provides enterprise mobility solutions for the healthcare and commercial industries.
InfoLogix today announced a strategic partnership with Wavelink Corp. to provide voice enabled mobile solutions for SAP customers. The strategic partnership between the two companies will enable customers to have new options for interacting with their SAP applications. Brian M. Thorn, senior vice president at InfoLogix, said the company has invested considerable amount of time researching voice solutions for SAP supply chain execution applications and found Wavelink Speakeasy to be the best solution in terms of functionality and ease of use. This announcement gave a boost to the small-cap stock, giving it a more than 100% boost.
In its latest 10K filing, InfoLogix mentions that on January 5, 2010, it affected a 1 for 25 reverse stock split of its issued and outstanding shares of common stock. The company also highlights some of the risks it faces. The company suffered significant losses from 2006 through 2009 and at the end of 2009 had $1,018 in cash and cash equivalents. The company faces substantial liquidity requirements related to the repayment of a seller note that will be due on September 30, 2010. The company will require additional funding as it says that it does not expect to generate sufficient funds from its cash flows from operations. The liquidity crunch puts the company’s existence at risk and creates a lot of uncertainty around the stock.
The company also highlights in its 10K that its shareholders do not have the same protection available, compared with shareholders of other NASDAQ listed companies. This is because; the company is majority owned by one single shareholder, HTI and is a “controlled company.”
The small cap stock has a 52-week range of $1.63-$15.25, which shows extreme volatility. It has a bet of 3.63, which again highlights high volatility. Currently, the stock is trading above its 50-day and below its 200-day moving averages.
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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
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