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By Annette Thatcher
Nov 28, 2014

Socket Mobile, Inc. (SCKT) Gets A Chance To Showcase

Socket Mobile, Inc. (SCKT) announced via press release on November 25 that the company's CEO and President Mr. Kevin Mills and CFO Mr. Dave Dunlap are scheduled to present at the LD Micro conference, held on December 2. SCKT provided an archived audio webcast to its presentation.

SCKT stock went up in the past couple of sessions after a prolonged time of maintaining a steady level. The ticker gained a total of 8.45% in price, going from $2.13 to $2.31. On Wednesday, the penny stock registered one of highest volumes for the entire year at 94,897 shares trading hands.Socket Mobile, Inc. stock chart

While there seems to be an increase of interest in SCKT stock, it is likely triggered by recent news that could point to either direction in the long run. Can Socket Mobile attract more people to invest in the company after holding a presentation, or will the event have no significant effect on the company? Until we get an answer, we should evaluate the company's long term potential. Financially, the venture has disclosed the following aggregates in its 10-Q for the quarter ended September 30, 2014:

  • Cash: $739.5 thousand
  • Total current assets: $3.4 million
  • Total current liabilities: $6.4 million
  • Revenues: $4.9 million
  • Net income: $431.1 thousand

The company has a decent financial basis. SCKT's cash and asset base are good. Still, the amount of accumulated liabilities is much higher. Socket Mobile has been making good proceeds from revenues and has ended the last period at an income. The venture's performance has been stable throughout the last few periods.

The company has spent $50,683 for stock-based compensation in the last quarter, issuing 32.6 thousand shares of common stock at an average price of $1.02 per share. For the past three quarters combined, SCKT has issued a total of 325.9 thousand shares of common stock at an average price of $0.81, valued at $201,974. Compared to the current market average of SCKT stock, these shares were issued at a very low price.

In October, Socket Mobile converted 516 thousand warrants into 278,266 shares of common stock per request of the holder. As of November 7, SCKT had 3,431,343 shares of common stock reserved for note conversion, warrant exercise and option grants.

SCKTThe company has not been very vocal regarding its ventures and initiatives. In the past number of months, there have been few updates on SCKT's plans. The company has the chance to showcase itself in front of a wider audience next week. While we await to see whether Socket Mobile will give more input on its ongoing plans and development, investors should do their own diligence on the company when evaluating SCKT stock as an investment option.

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