How would you feel about a world, where the hospitals operate without needles? This is what Medical International Technology Inc.(OTC:MDLH) proposes to the public – needle free jet injectors for human and veterinary applications. It seems to work as the market responds well to any new announcement from the company. So is this really the next big thing in medicine? Well, depends on who you ask.
On one hand, if you ask yeterday`s traders – this is it, this is the deal of a lifetime. They do have their proof. It is the company announcement from yesterday, stating that an Asian joint-venture of the company has just received Chinese FDA approval for its products. It is without a doubt a good thing to be approved to market your products to 20% of the population of the world. If only things were so easy with the US FDA, but that is another story entirely.
On the other hand, there are some facts, which will not exactly inspire confidence in investors. One of them is the astonishing number of cash, according to the latest 10-Q statement. The manager currently has $26 at his disposal, which is enough for a few trips to China, including a visit to the Great Wall and maybe Shaolin monasteries. It is, however, not much for a company offering the next break-through in medicine. The accumulated deficit, on the other hand, makes up for the small number above. It is $12 million, spent generously throughout the years.
Did I mention the number of employees? It is 3 employees and 3 consultants with a President and CEO to manage them. Small number, but working in a huge office – a 7,200 square feet industrial facility in Canada. Keep in mind that the regular football stadium is 34,500 square feet. [BANNER]
Until that time comes though, we better stick to the reality at hand. For Medical International, the future seems nothing but misty and it is yet to see what lies behind the thick fog of the present day.
