Friday, June 24, 2022

The Bottom Drops Out on HCi VioCare (OTCMKTS:VICA)

HCi VioCare (OTCMKTS:VICA) is a penny stock that has started to garner attention as the stock bounces up the chart. We can confirm that there is currently some promotional activity out on this name, which imposes some ‘caveat emptor’ filtration necessity. That said, we wanted to point the name out given its recent press release, which does have some interesting dimensions.
Specifically, VICA just announced that it has shipped “the world’s 1st Smart Diabetic Walker Boot, equipped with the company’s patent pending Flexisense technology, to a global diabetes-market leading manufacturer.” According to the release, the Flexisense smart diabetic walker allows the user or the clinician to identify high pressure or shear force areas without having to remove the boot. “Removing the walker throughout the day to check for pressure sores could lead to prolonged healing time. The smart boot is especially useful for diabetic user who must ensure their feet are kept clean and in good condition. Any high forces or pressure points can be analysed and resolved immediately, rather than at the end of the day, which can be too late. If sores are prevented, then there would be a reduction in diabetic ulcers which can cause serious health problems, are expensive to treat and can lead to amputation.”
HCi VioCare (OTCMKTS:VICA) trumpets itself as a company that has a dual, complementary business model of 1) creating the first cross-border independent chain of Prosthetics & Orthotics (P&O) and Diabetic Foot clinics in Europe and the Middle East and 2) developing a wide portfolio of proprietary hardware solutions with first in line the Flexisense sensor system, aiming to empower the user by providing on-demand information in the fields of Digital Health, Prosthetics, Orthotics, Diabetes, Assistive Devices, Sports and Wellbeing, and licensing to established industry participants.
VICA engages in the research, development, and marketing of medical technologies. The company also operates prosthetics and orthotics, and diabetic foot total rehabilitation clinics. In addition, it is involved in the research, development, and commercialization of medical devices, methods, and products in the fields of prosthetics, orthotics, rehabilitation, bioengineering, mobility, diabetes, diabetic foot, tissue mechanics, ultrasonics, medical signal processing and analysis, medical technology, orthopedics, and robotic surgery.
HCi Viocare is listed on the OTC Markets in the USA, has its executive office in Athens, Greece and R&D center in Glasgow, UK.
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As noted above, VICA is currently the subject of some promotional activity, but may still be interesting nonetheless. The action is coming along long-term support and includes the announcement that the company has just shipped “the world’s 1st Smart Diabetic Walker Boot”. While we see this news as possibly interesting, we would emphasize once again that the prospects of this stock as an investment should be weighed against the answer to the question of why it is being actively promoted.
Dr. Christos Kapatos, HCi Viocare’s co-founder and CTO, stated: “Diabetes is the epidemic of our times and the diabetic foot condition effects millions of people world-wide. We are very happy and proud to present our Flexisense smart diabetic walker which is designed to monitor the health of the diabetic foot and assist in preventing ulcerations. Millions of people suffer from the effects of foot ulcers that limit their mobility and affect their lives. The purpose of technology is to improve the lives of all people and this is what we are doing with Flexisense and with our smart diabetic walker. We expect our technology to be welcomed by the major manufacturers in the field and quickly incorporated in their products, so it can rapidly reach the people that need it; the people with diabetes. ”
The chart shows -8% shaved off of share pricing for the name in the past week. That said, VICA is a stock whose past is littered with sudden rips. Moreover, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed a bit over 220% beyond what we have been seeing over the larger time frame.
Currently trading at a market capitalization of $23.58M, VICA has virtually no cash on the books, which must be weighed relative to about $104K in total current liabilities. VICA is pulling in trailing 12-month revenues of $633K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -38.5%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign up for continuing coverage on shares of $VICA stock, as well as our other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $VICA, either long or short, and we have not been compensated for this article.

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