A celebration is in order for Medisafe 1 Technologies Corp. (MFTH) who, apparently, is about to finally get a number recorded on their top-line. Having never recorded a penny in revenues since inception, MFTH stock is hoping it can actually surpass a penny having made it 29% of the way there already today. With the news disseminating out of Jerusalem just prior to the market open, the developer of patented technologies that physically prevent unauthorized administration of prescription medications is one of the hot penny stocks is currently 2nd on the most traded penny stocks list.
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MFTH Stock Chart
Current: 0.0027, up 0.0012 (80.00%)
Dollar Volume: $147,618
Average Trade Size: 232,756
Outstanding: 325,864,945 a/o June 30 , 2012
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The news broke around 8:45 that MediaSafe 1 Technologies is in advanced negotiations for a one-time payment deal for $7 million for a non-exclusive perpetual license agreement to transfer rights for the full commercialization, marketing and distribution of its patented medicinal locking mechanism and bar-code matching system. If all goes according to plan, the deal should close within 60 days.
However, this isn’t the first time the penny stock has had huge volume spikes while trending downward from their 0.036 high in February when MFTH really began to trade. Just look what the Company has issued for the first 6 months of 2012:
On January 4, 2012, Medisafe 1 entered into an agreement with directors and officers of the Company. As payment for services, the Company issued 100,000,000 shares of its unregistered common stock at a value of $175,000 or $0.0025 per share.
On February 10, 2012, Medisafe 1 issued 25,000,000 shares of its unregistered common stock as payment for services valued at $192,500 or $0.011 per share.
On April 23, 2012, Medisafe 1 issued 19,000,000 shares of its common stock to an investor for $40,000, 0.0021 per share, and a stock subscription receivable in the amount of $10,000.
From January 1, 2012 to June 30, 2012, Medisafe 1 issued 89,961,636 shares of its common stock valued at $127,881, 0.00142 per share, to retire convertible debt and accrued interest.
There are peak days in between the positive volume spikes like in today’s trading session followed by weeks of decline. The last such spike came in mid July when MFTH stock peaked at 0.0055 after announcing that 3,100,000 shares had been purchased under the Company’s share buyback program will was said to continue and is expected to last approximately an additional 1-3 months. The Fluff: Medisafe 1 Technologies is authorized to repurchase up to 10 million of its outstanding shares of common stock at a price up to $0.10 per share on the open market.
If MFTH ever even comes close to 0.10, I’ll do the “Chicken Dance” at the Super Bowl in 2013 Halftime show.
About MFTH Stock
Medisafe 1 Technologies Corp. seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. The Company’s invention, based on the Patent, is a medical assembly which may effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. It accomplishes this by taking a medical assembly and incorporating a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and the specific patient, identified by bar-coding or other identification technology.
Bottom Line: MFTH is one of the hot penny stocks today, but do yourself a favor and make sure you have removed it from your list of stocks to watch by the end of the trading session.
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