MC: $18 mill
Price: $0.029
Cash in bank: $4 million
ePAT Technologies is developing mobile medical applications to provide pain assessment for those that are unable to communicate with those responsible for their care.
A market update released in December only discussed the who, what and where of their pilot implementation study. The update released no information on results and was not received well by the masses, dropping from a high of 4.2c on the day to as low as 2.6c in the subsequent days. The company stated that the results were currently being analyzed for release in February.
EPT really jumped out of the blocks when it listed in October. Large volumes of the stock were traded in the following 2 months, the majority of which traded more than 25% above the current share price. In comparison, since the bloodbath on the day of the market update, volume has all but dried up. IMO it is unlikely that a significant proportion of those still holding from before the bloodbath will sell before the February update and miss the chance to be part of the next potential rally, which may well see them regain their paper losses. There seems to still be a bit of dumping into the 3c resistance level, but I expect that to almost be finished and that anticipation buying will kick in shortly, resulting the share price hitting at least 3.6c over the coming 4 weeks.
