Positron Corporation (POSC)

[bpatient]

Is this of any value?

Posted by Zacks on Jun-14-2012:
OUTLOOK
We are downgrading our recommendation from Neutral to
Underperform and moving our price target to $0.00.

We initiated coverage of Positron in September 2011 with a Neutral rating reflecting what we believed was an
acceptable risk/return profile of the company at the time. Since then we feel POSC's risk profile has significantly
deteriorated as a result of a number of factors which has prompted our downgrade in the stock from Neutral to
Underperform. We are also removing all of our revenue and EPS estimates. Of particular concern are;
- POSC has defaulted on payables (as noted in our initiation report, this could trigger a downgrade)
- Lack of faith in management delivering on commitments or strategy
- Exhausted cash balance
- Lack of financing
- Revenue has been insignificant and well below ours and management's forecasts