The sounds are beginning to resonate from the percentage gains Max Sound Corp. (MAXD) has been posting since filing their 10-Q on August 14th. MAXD has switched gears from sporadically trading less than 100K shares to over 700K both Thursday and Friday of last week. From the way MAXD stock is trading currently, that 700K mark should be reached again in today’s trading session as it continues to rise.
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MAXD Stock Chart
Last: 0.4799, down -0.0201 (-4.02%)
Volume: 303,004
Dollar Volume: $141,396
High: 0.50
Trades: 57
Average Trade Size: 5,315
Authorized: 400,000,000
Issued and Outstanding: 255,460,394
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Last week, when Max Sound Corp stock price began to see a surge in trading and an increased share price, the breakthrough technology company announced that Jerry Bryant, the Concert TV Pioneer leading Chicago’s longest running music television show, JBTV, was adopting the technology as the final audio processing for the concert footage of the weekly NBC ‘Nonstop’ concert shows. The news hit Tuesday, August 21, 2012, at 9:15 AM EDT. Since then, MAXD stock has gained over 80%.
Reviewing the Company’s most recent 10-Q, they still have yet to book any revenues, but as the kool aid drinkers of Global Technologies Group (GTGP) will tell you – who needs financials when you have PR.
Without digging too deep into the long list of NOTE 6: CONVERTIBLE DEBTS on the most recent 10-Q, the highest exercise price is 0.2629 with 0.035 the lowest. In reviewing NOTE 7 STOCKHOLDERS’ EQUITY, (A) Common Stock Issued for Cash, there are eight pages, from 18 to 26. Have fun on your digging expedition.
About MAXD Stock
Max Sound Corporation acquired the worldwide rights to all fields of use for Max Sound HD Audio technology in May, 2010. In February of 2011, after several successful demonstrations of the Max Sound Audio technology to various multi-media industry company executives, the Company decided to shift the focus of the Company to the Max Sound HD Audio technology and commenced the name change from So Act Network, Inc. to Max Sound Corporation and the symbol from SOAN to MAXD.
Bottom Line: MAXD is having a good run these past few days and should settle down in due course. With the enormous number of convertible notes and stock issued for cash and services, it best to avoid adding MAXD to the list of penny stocks for now.
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