There is always another side to every story. Recently I wrote about iMedicor, Inc and focused on its many seeming virtues and what a super star it looked like it would be. I am a positive guy and I always look for the bright side in everything and based upon the information I was given at that time iMedicor looked very bright indeed. But I keep an open mind and a sharp eye for other details sometimes not flattering at all.
First of all a full disclosure. For about a month I was paid to perform public relations services for iMedicor. It is important to note the term was and remains public relations and NOT stock promotion. My objective was merely get the facts about the company to as much of the public as possible. For the month I was on retainer I performed my duties fully and cheerfully. But the powers that be within the company elected to not renew my services. No reason was given, they simply refused any further payment. That was their absolute right. But it did cause me to look a little closer and here is what I discovered.
According to the website MacroAxis iMedicor (VMCI:PK) has better than a 96% chance of filing for bankruptcy. Here is the link: http://www.macroaxis.com/invest/manager/VMCI.PK--Fred_Zolla. Wow! That is astounding. True it is merely one persons opinion but still it is astounding and is based largely on iMedicors ever growing debt versus its negligible revenue. So even a devote optimist like me would have to step back and at least look at something that damning before sinking my money into the company.
Another huge problem for me was when I “Googled” “Electronic Health Records” I found absolutely nothing about iMedicor. Now it is true that what iMedicor claims to offer is a means of transferring HER not generating them. Still one would think that if iMedicor was truly a player in that field they would show up when EHR is googled.
Well as I said there is always more than one side to any story. I was at first very positively impressed with iMedicor and it is possible that they may yet emerge is a true winner. However, I have no unearthed another side that seems to make the odds of iMedicor standing tall very slim indeed. The fact is that there are tens of thousands of little penny stock companies trading in North America. Every once and awhile of them will take off in the market place bring great gain to a few. That is why it is still useful to look at the ankle biters even with typically terrible odds. Once I thought iMedicor could be the next big winner. Now I am not nearly as convinced. Time to move on.