After a spectacular gain during the past week, yesterday Medina International Holdings, Inc. (OTC:MIHI) closed the day with a 
zero price change. Though, it is interesting which way MIHI will take today. In any case, Medina has already decided to fight for the climb by promotions.
According to the records, Stock Guru promoted MIHI yesterday for a compensation of $5.000. Apparently, Medina has paid the campaign by itself as there was no third party involved in it. Whether the alert will push up MIHI stock price or not, it will be seen any minute. Nevertheless, the promotion is the greatest hope of the company to get the up move again as presently there is nothing else to rely on.
Medina International Holdings, Inc., through its wholly owned subsidiary Harbor Guard Boats, Inc., produces commercial fire, rescue, police and patrol boats utilizing the highest design and performance standards. The latest news by the company came out on July 6, when it reported that it has completed a delivery of a Firehawk 24 fire rescue boat to the Westville Fire District #1 in New Jersey. Since that time no one is familiar with Medina’s activities.[BANNER]
And while investors are waiting for fresh news by the company, its financials don’t inspire confidence. On the contrary, the latest 10-Q of Medina looks quite disturbing. As of end-January, the company’s current liabilities are eleven times higher than its current assets, and the stockholders’ deficiency exceeds $1.8 million. At the same time, the accumulated deficit of MIHI is getting higher and higher.
Considering the other losses on the balance sheet along with the negative cash flow, the situation is crystal clear – Medina is functioning under a going concern. In the beginning of this month, the company entered into an agreement to make WinTec Protective Systems, Inc. its subsidiary. However, having in mind the financial condition of MIHI, the future of its new subsidiary appears to be rather doubtful.
