What might be considered as the best penny stock of 2013, or at least for the first 4 months, MMRGlobal, Inc. (OTC: MMRF) has broken past a “dime” and is finally getting some much deserved respect. Surging more than 725% as of the HOD, MMRF stock is currently just 4 spots back from the big money pumped Tungsten Corp. (TUNG) for most trades as of mid-afternoon Friday. With no splits, dips, or reasons to doubt the momentum the secure and easy-to-use online Personal Health Records provider has lit up so far this year.
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MMRF Stock Quote
Market Cap: 59.69M
Last: 0.108 ▲ +0.03 (+38.46%) ( %)
Dollar Volume: $376,737
Issued and Outstanding: 552,721,661
Insiders as a group: 162,835,799 (27.5%)
1st Resistance Point: 0.0828
1st Support Level: 0.0704
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Mentioned to only a select few VIP Members back in January when Robert H. Lorsch, MMRGlobal Chairman and CEO, addressed shareholders, no one could have ever imagined that this beast of a penny stock would produce such insatiable gains over the course of 4 months. MMRF stock really didn’t slow down yet this year, nor did it experience huge spikes after announcing patent infringement cases against the likes of WebMD, Walgreens, and even across the Pacific to companies based in Australia and Singapore.
Despite the bullish run this year, MMRGlobal actually reported weaker sales for the year ended December 31, 2012 compared to the prior period. Total revenues dropped -43.34% to $804,343 from $1,419,648, respectively, while costs to generate the respective revenues basically remained constant, $588,672 versus $609,212, respectively.
Since the start of 2013, MMRGlobal has kept their legal department quite busy. On January 29, 2013, the Company filed a complaint for patent infringement against Walgreen Co., titled MyMedicalRecords, Inc. v. Walgreen Co., United States District Court, Central District of California, Case No. CV 13-00631 ODW (SHx), alleging that Walgreen Co. is infringing MMR’s Personal Health Records patent, U.S. Patent No. 8,301,466. The parties have agreed, and the Court has ordered, that Walgreen Co.’s time to respond to the complaint is continued to May 3, 2013 so that the parties can continue to pursue discussions regarding a potential settlement or early resolution of this matter.
On February 11, 2013, MMRGlobal filed a complaint for patent infringement against WebMD Health Corp. and its wholly owned subsidiary WebMD Health Services Group, Inc. titled MyMedicalRecords, Inc. v. WebMD Health Corp et al., United States District Court, Central District of California, Case No. CV 13-00979 ODW (SHx) alleging that WebMD is infringing MMR’s Personal Health Records patent U.S. Patent No. 8,301,466.
With today the date Walgreen Co. has to respond to MMRGlobal’s complaint, the Company, as of the time of their 10-K filing, had not yet served WebMD with their complaint.
The surge in MMRF stock can be clearly tied to the Company’s various lawsuits filed since the start of 2013 which, although they could prove to be lengthy could also prove to be quite lucrative.
About MMRF Stock
MMRGlobal Inc. offers a suite of secure, online products that empower consumers and professionals alike to manage medical records and other important documents in their life and business, whether paper-based or digital.
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MMRF has indeed been a parabolic penny stock for all of 2013 after setting a new 52 week high today. With 107,049,926 shares of MMRF stock exerciseable at $0.09 for equity compensation as of December 31, 2012, the pull back from the HOD could indicate that the peak has finally been reached — a well paced jog for all those who got in during January. A significant move could still be made depending on how Walgreen Co. responds to the infringement suit MMRGlobal filed against them in January.
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