Alerts have been hitting inboxes around the planet since yesterday’s close focused on getting traders to take a close look at the penny stock of MIT Holding, Inc. (MITD). Headlined by Circle, MITD stock is looking to continue a week whereby volume has reached levels certain investor relations groups were supposed to have already handled months ago. Although the chart looks like it’s one of the most inactive tickers on the OTC, the volume spikes back in March prove just how high the share price can get which could be tested now that a new revenue streams with up to 52% gross profits might just be on the table by acting as a sub-investigator for Melinta Theraputics in the Phase 3, multi-center, randomized, double-blind, active controlled study to evaluate the effects of the treatment of patients with complicated bacterial and soft tissue infections.
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MITD Stock Quote
Although people are still getting sick and needing ambulance rides to their local hospitals, MIT Holding has been having a rough 2014 after reporting a 47.2% decrease in revenues for the nine months ended September 30, 2014, $711,214, when compared to the $1,352,561 that was booked during the same period last year. The Company said that the drop in revenues was directly related to the decrease in activity at all operating locations during the first 9 months of 2014 – not really the greatest reason why traders will be buying MITD stock today.
On the positive side of a terrible year, MIT Holding has managed to determine that the drop in Ambulatory revenue was due to decreased referrals and offsets from Insurance carriers for overpayments/refunds due, the drop in revenue in the Home Infusion and Durable Medical Equipment divisions were realized creating minor offsets. Furthermore, by taking advantage of mail order drugs on some higher priced therapies whereby medicines are sent to Company, but are still billed directly to the payor, are helping to keep overall costs low. This utilization, along with the decline in operating expenses by $1,197,027, 71.1%, during the 9 months ended to $480,341 compared to $1,677,369 for the same period in 2013 proves they are doing what they need to do to steer their ship right.
Back in August, the Company hired New York City-based ProActive Capital Group, LLC, a leading capital markets advisory and communication strategies firm, to assist with achieving investor and corporate awareness. One would assume everyone already knows about MIT Holding considering MITD has been trading on the OTCBB since May, 2007. Funny because more shares have traded in the last 3 sessions than at any time since ProActive got the call.
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About MITD Stock
MIT Holding, Inc., through three wholly-owned subsidiaries, is a development stage holding company that distributes wholesale pharmaceuticals, administers intravenous infusions, provides medical management services, operates an ambulatory center where therapies are administered and sells and rents home medical equipment.
Issued and Outstanding: 88,479,914
Last 5 Trading Sessions:
There was some obvious front loading done yesterday prior to the penny stock alerts on MITD being sent out last night. With the probability of a gap open appearing more and more likely as the opening bell approaches, the traders who wait until 10AM and 10:30AM for the market makers to shift around their orders stand a better chance of seeing a green flip opportunity on MITD than those who place their orders prior to the bell. The PPS hit 0.31 in March on heavy volume – can it repeat the madness?
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