Due Diligence for Investors in Portlogic Systems, Inc.
The company filed form 10-K that is linked below, gives a detailed snapshot of Portlogic. Investors should focus on the share distribution. The recent company press release we’ve included gives a concise description of the company’s products and their development status. We have also linked below, the Barchart.com analysis for key corporate statistics and opinion of the stock.
Our View: This Company has been developing its portfolio of software products for several years and they state that those products are now fully developed and ready to be brought to market. The company has a nominal income from its VOIP communications business but has yet to produce any revenues from its software products. They do not produce a profit.
Portlogic is a VERY thinly traded stock. The CEO, who appears to be the only employee, owns 90% of the outstanding shares. Investors wanting to hold these shares are going to do just that. With an average daily trading volume of 3,400 shares it would be difficult to get rid of them. Investors should note that with the exception of a few short term trading spikes over the past few years, these shares trade in the $.05 – .10 range and can go months without trading at all. We wouldn’t recommend these shares until the company passes a milestone of some kind and the shares hold a trading volume, above zero, for a sustainable period.
PGSY – Press Release – September 21, 2015
PGSY – Form 10-K – Filed September 15, 2015
Barchart.com – Analysis – September 22, 2015
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