Ekso Bionics Holdings, Inc. (OTCBB: EKSO) continues its rise on big volume in recent trading; the stock has been on fire ever since the Company was selected by Boston Dynamics, now part of Google, to continue developing technologies for Defense Advanced Research Projects Agency's (DARPA's) Warrior Web Task A project.
EKSO may trade on the OTCBB but the Company operates more like a Big Board Stock than a microcap. Since inception there has been no known promotion of EKSO yet the stock trades millions. The Company has the proven ability to raise large sums of money; EKSO went public through a reverse merger in January simultaneously raising $20.6 million through a bridge debt transaction.
Ekso Bionics Holdings, Inc. (OTC: EKSO) has been pioneering the field of robotic exoskeletons, or wearable robots, to augment human strength, endurance and mobility. The company's first commercially available product called Ekso has helped thousands of people living with paralysis take millions of steps not otherwise possible. By designing and creating some of the most forward-thinking and innovative solutions for people looking to augment human capabilities, Ekso Bionics is helping people rethink current physical limitations and achieve the remarkable.
EKSO is working with Lockheed Martin (NYSE:LMT), the exclusive contractor of the US military, in an attempt to provide exoskeletons for military purposes. Many EKSO investors are overlooking this opportunity. The military market could be the secondary market that not only raises awareness of EKSO's bionic skeleton, but also advances the function of the technology.
Ekso™ is a wearable bionic suit which enables individuals with any amount of lower extremity weakness to stand up and walk over ground with a natural, full weight bearing, reciprocal gait. Walking is achieved by the user's weight shifts to activate sensors in the device which initiate steps. Battery-powered motors drive the legs, replacing deficient neuromuscular function.
Back in October EKSO announced that it was selected by Boston Dynamics, now part of Google, to continue developing technologies for Defense Advanced Research Projects Agency's (DARPA's) Warrior Web Task A project. Ekso received a subcontract from Google for the project, in which Ekso Bionics will retain rights to its proprietary intellectual property. This extends the collaboration previously created from the selection of Ekso Bionics by Boston Dynamics in support of this important program in 2013 and brings the total amount of the grants awarded in the last twelve months to Ekso Labs™, the engineering services division of Ekso Bionics, to $4.5 million of non-dilutive funding.
Since hitting the OTCBB in January of this year EKSO has been highly volatile showing us its ability to move and inspire investors to buy this stock to the next level. Since those heady days when EKSO was trading over $8 per share at a market valuation in the hundreds of millions the stock has fallen in dramatic fashion recently making an all-time low of $0.753 per share. Now that has all changed and EKSO is rising fast.
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