Cardio Infrared Tech (CDOI) Double On High Volume
Shares of CARDIO INFRARED TECH (OTC: CDOI) is the biggest penny stock gainer on Monday with the stock soaring 90.50% to $0.06 on hefty volume of about 63.50 million shares.
CDOI engaged in developing and manufacturing of fitness and weight loss equipment and products.
CDOI’s products has completed and approved by a FDA-certified facility in Philadelphia, whuch is now awaiting to get response for its completed second and third phase. Moreover, the company has patented technology.
CDOI has orders for its products, which are scheduled to be deliver in October 2011.
CDOI Financial Outlook
CDOI provided financial outlook in the latest quarter and started that it expects its revenue to reach $0.50 million every month with a profit margin of 20%.
For the quarter ended MARCH 31, 2011, CDOI had reported revenue of $49, 200, while net loss stood at 30, 746 or compared to a year ago loss of $59, 919.
CDOI had a total Stockholders’ Equity of $4,172,747, with Accumulated deficits of $666,696.
At current market price, CDOI has a market capitalization of $60.87K.
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