Promoted penny stocks were overtaken this week by former NYSE listed and bankrupt Eastman Kodak Co. (EKDKQ) which provided traders up to 92% gains. From as low as 0.315 on Tuesday, to as high as 0.605 on Friday, the trading activity on EKDKQ stock blemished Marine Drive Mobile Corp. (MDMC) which closed the week at 0.48, half a cent from its highest price yet since being promoted.
MDMC stock didn’t even make in the list of the top 20 penny stocks traded Friday with just 175 trades on 870,687 shares worth $390,770 when it should have been the top traded penny stock all week. It is on high alert for Monday after announcing that it has updated its core technology, Deal Management Software, 2 hours after the closing bell.
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EKDKQ Stock Structure
Market Cap: $150,877,122
Shares Outstanding: 271,850,671 a/o Apr 20, 2012
Close: 0.555, up 0.045 (8.82%)
Dollar Volume: $7,982,214
Average Trade Size: 6,276
The first music video to air on MTV was “Video Killed The Radio Star” at 12:01am on August 1, 1981 and it, together with Napster and Limewire, eventually killed the music industries sales. EKDKQ is suffering a long drawn out suicide after Steven Sasson, an engineer at Eastman Kodak, invented and built the first digital camera using a charge-coupled device image sensor in 1975.
MDMC Stock Structure
Market Cap: $18,345,600
Shares Authorized: 250,000,000
Shares Outstanding: 38,220,000 a/o May 15, 2012
Close: 0.48, up 0.04 (9.09%)
Average Trade Size: 4,975
The Company issued a press release about two hours after the market closed for the week. In it, Marine Drive stated how it’s technology and model is really quite simple. Really? How hard is it to create a pump with a massive webvertisement about some golf course in Washington state that offers golfers a discount for using their online coupons. (see here)
The fluff details how the Company provides simple tools that make it easy for Merchants to create deal promotions, manage them, and market them to their list of loyal customers. They go on to state how buyers like a bargain which in and of itself is common sense. However, if you play golf, which is the highlight of MDMC‘s coupon generator via comb-over captain Andrew Carpenter, you don’t want to play on a course that offers such promotions. Who wants to enjoy a round with all the riffraff that owns a pair of sticks and plays with unlimited mulligans. They are the ones most likely to be pursuing such bargains for a round of golf and the course is most likely to look more like a gopher sex club with all the divits on the fairways and greens.
Colin MacDonald, President and CEO of Marine Drive Mobile stated “regardless of the economic realities of the day, no one likes to pay full price if they can get it cheaper.” #Fail. When you’re the CEO of a pump and dump, don’t make comments like this because, at 19th hole, your POS stock isn’t worth 0.48. With a Scottish name like Colin MacDonald, perhaps that’s why the Company’s lead product is eTeeoff since the kilt-wearing Scots invented the game some 460 years ago. Then again, if you ever visited Scotland, you know there isn’t anything else to do there except eat sausage rolls and deep-fried pizza.
About MDMC Stock
Marine Drive Mobile Corp., founded by CEO Colin MacDonald, develops transactional m-Commerce applications and services, which connect merchants with consumers through proprietary software and business processes. The Company provides merchants and consumers easy access to a stable and secure SaaS-based, software as a service, platform that helps generate value and drive revenues. The goal of the Company is to position themselves to become a leading provider of transactional services in the m-Commerce space.
Bottom Line: The penny stock of Marine Drive Mobile Corp., MDMC, saw a bit on a pull back from trading since the anticipation for the next APS pick has forced traders to stock up on cash rather than shares. MDMC stock has had a decent run up thus far gaining over 200% since we first profiled it after it closed at 0.15 on July 20th.
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