After months of slowly sinking to recent lows near the $0.0025 mark, in the last week or so Medefile International Inc (PINK:MDFI) has been trying to move up.
After two press releases and a paid promotion, yesterday MDFI closed down 2.78% at $0.0035 with 27.9 million shares traded.[BANNER]
In the past, April and May of this year, MDFI had some active trading sessions with paid promotions. This time, however, there was no spike. Perhaps because the compensation of $20 thousand is nowhere near the $500 thousand from April; or maybe because MDFI has just failed to deliver.
For the second quarter the company managed to get a moderate increase in revenue and generated $187 thousand, but the bottom line was a net loss of $663 thousand.
There has also been some dilution, but it is not staggering – approximately 200 million shares (3.6 billion issued and outstanding on June 30, 2011.)
It isn’t yet clear whether the recent announcements will be enough to push MDFI off of the recent lows for long. The company may need something more substantial in order to inspire more confidence in investors and traders.
