A surge of buying was expected to hit the penny stock of MediSwipe, Inc. (MWIP) after the Wall Street Journal did a fabulous piece on their entry into the marijuana-focused property market. Quoting B. Michael Friedman, CEO and President of MediSwipe, throughout the article, the $122,500 investment made by purchasing an old cattle ranch in Pueblo, Colorado should have brought the bulls charging towards MWIP stock right at the bell. With commitments already worth $5 to build greenhouses and infrastructure on the property and 3 tenant lined up to rent them to at $15 per sqft., the long road ahead looks like green pastures for those with the patience to wait.
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MWIP Stock Quote
Market Cap: 21.83M
Last: 0.485 ▲ +0.059 (13.85%)
Dollar Volume: $1,076,105
Issued and Outstanding: 45,010,155
14-Day Rel Strength: 58.62%
1st Resistance Point: 0.51
1st Support Level: 0.45
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Being a penny stock and having the Wall Street Journal do a piece on your business speaks volumes of the integrity and sustainability your Company has. Although most of the write up about marijuana-related property purchasing was focused on MediSwipe, a decent sized portion was shared with Zoned Properties, Inc. (ZDPY).
Seeing what ZDPY stock did after it entered into the property business in Arizona, speculating marijuana laws will soon be relaxed there as they have been in Colorado and Washington, expectation for MWIP stock to react in-kind are a given considering. Because of the inherent risk and limited supply of places where marijuana can be grown, MediSwipe is planning to charge approximately $15 a square foot of greenhouse space fully outfitted with a computer-controlled environment of heaters and air conditioners, among other equipment.
Within the WSJ article, it mentions how MediSwipe has already lined up three tenants to take up about 15 acres combined of the 80 acres the Company purchased starting as early as May. If that is the case, there are 43,560 square feet in 1 acre making the 15 acres due to be leased worth $9,801,000 @ $15 per square foot – a huge impact on a $5 million development commitment.
The entire 80 acres leased out @ $15 per square foot would be worth $52,272,000 to MediSwipe annually.
Although this venture into the real estate business may seem obscure for the cloud software provider for marijuana dispensaries and health care providers, a large bulk of their 9 months ended September 30, 2013 revenues came from their hemp-related beverage Chillo drinks. With the 10-K due to be filed shortly, a reaction to the numbers and closer look at what shares insiders held at the end of 2013 should give a better indication for bullish or bearish reactions to be formed about MWIP stock.
MWIP stock took a bit of a dip after the first 10 minutes of trading today and is looking like it’s going to close strong, perhaps as high as 0.50. With the last 2+ months having been healthy trading since the initial KaBoom at the start of the year, looking forward to a new 52 week high during the next 2 months is a very realistic approach.
About MWIP Stock
MediSwipe Inc. is a development stage company offering a complete line of merchant services for electronically processing merchant and patient transactions to licensed medical marijuana dispensaries, pharmacies and healthcare patient facilities.
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When the day is all said and done, MWIP should wind up somewhere between the 15th and 25th most traded penny stock on the OTCMarkets with approximately 3,000,000 shares traded. As long as MWIP stock can break past the 0.50 barrier and close above it today or tomorrow, a lot more eyes are going to be seeing the numbers after doing the math of what $15 per square foot annually on 80 acres in a state where recreational marijuana is already legal. News of having received zoning permits to build their Hempafactory should send the shares to the moon.
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