With another five percent price increase in the bags on a day that saw the second highest trading volume of the new year, it could be time to start considering GelTech Solutions (GLTC.OB) for a continued move towards a dollar - if not higher - as the company looks to revolutionize firefighting as we know it.
As previously noted, the company's lead product FireIce is primed for a boom in global growth as testimonials of its success in assisting firefighting efforts continue to spread and governments worldwide begin to understand the potential savings of infrastructure and resources that could accompany the widespread use of GelTech's technology, which suffocates fire much more effectively than water alone.
A funding arrangement has already been announced this year to support the expected increase in distribution, so GLTC is free to move forward on support of anticipated announcements relating to FireIce distribution and/or other potential qualifications by foreign governments that would free the product for marketing and use at a national level, similar to the 'Qualified Product' listing GelTech received from the U.S. Forest Service for FireIce last year.
Volume is inching higher - along with share price - and 2012 is expected to be a year of growth for this company whose market cap still stands at fifteen million.
This makes GLTC a stock to watch.
Disclosure: Long GLTC.