Dallas, Texas 10/29/2013 (Financialstrend) – Sigma Labs Inc (OTCMKTS:SGLB) is a $74.43 million market capitalized company which operates as a research and development enterprise in the pursuit of designing and developing new manufacturing process and industry grade materials. It then looks at monetizing these new findings by offering them to industry houses or trade bodies. It also operates as a turnkey research and development operator and helps other companies develop industrial materials under their brand name.
As of close of business on October 28, the stock of this material manufacturer was trading at $0.13 per share down 7.5% from its previous day close. Intraday the stock fluctuated wildly between $0.13 and $0.15. At current valuations it is trading at 38% below its 52 week high valuations and a significant 225% above its 52 week low pricing.
The significant drop in value of the stock when trading commenced this week happened in spite of positive news with regards to Sigma Labs operations. On October 25, the company had announced that it had won a second coveted contract from the Los Alamos National Laboratory to make available its proprietary manufacturing know how and support services. The company announced that its “services would be put into use in nuclear weapons stockpile stewardship and disposition for the Advanced Recovery and Integrated Extraction System (ARIES).” The Santa Fe based Sigma Labs is hoping to net close to $0.178 million in net proceeds from this contract.
Commenting on the winning of this second contract, CEO and President of Sigma Labs, Mark Cola has been quoted as saying, “This latest contract is one in a series of awards that validates our expertise and our ability to deliver solid technical results to the most demanding applications in the world, namely U.S. National Security and reducing the threat of weapons proliferation. This contract is part of a broader engagement strategy that Sigma Labs is implementing with the U.S. National.”
