First bought 2000 shares of this stock on 4/19/07 at $1.41. Did day trading the stocks till 8/27/2008 on that day, sold the last postion at $5.94. Total made about $40K. Then this stock took off and reached high at $11.4 on 10/24/07/
This stock caught my attention again when it raised $2 million from common stock offering at $0.32/share.
Today, I got 10K shares at 0.2416.
It is gambling money anyway. In case it goes back to $5, then I would make a little more money from this stock.
Guess you missed the potential reverse split announcement and likely will end up on the heap with the other SCONheads who owned it through the last two 1 for 10 reverse splits. Lets see. That would put the value of a share owned before those reverse splits at .002416 cents at your purchase price. I also enjoyed the ride in 2007 and I have visited the beautiful campus outside Santa Barbara near the ocean and witnessed the CEO grooming the grounds on a Saturday afternoon. Sadly they finally gave that up, probably to raise funds. One profitable quarter in the complete existence of the company and the millions and millions of cash they have burned in all those years without having to declare bankruptcy. Simply amazing!!!
If my memory serves right, the spike in stock price in 2007 was solely due to equity invenstment and announced joint venture from China.
At the current price, it is worth the gamble. IMHO, one of the following thing may happen if they can avoid liquidating the company in next 1 or two years.
1. Bought out by another company
2. Reversed merge to the company in China, who just wants to utilize the emptry sheel of SCON in the NASDAQ so the China company can be listed in USA.
3. The demand for the product goes up and the company starts to make some profit.
Either one of the three things will drive the share price above $2.5, or 10 folds of the current price.