market and its traded volume reached approximately 600 thousand shares.Most probably the reason for the high trade were the promotions of the stock. According to the records, yesterday MFTH was promoted twice by two different promoters and the stock got the up move immediately.
Besides the promotions, Medisafe announced that the company’s Board of Directors has approved the research and development of two new medical locking device products.
Obviously, the news has additionally supported MFTH stock and the climb has begun.[BANNER]
Medisafe seeks to effectively prevent errors in the administration of drugs or other medical substances. Historically, the stock traded lower, though since October it’s been on an uptrend held by positive press releases.
According to its latest quarterly report, the total assets of Medisafe are over 50% higher than its liabilities and the stockholders’ deficit exceeds $98 thousand. As a development stage company, Medisafe has generated no revenues, though it has incurred lots of expenses and a net loss. Currently, MFTH has no operations and it’s been supported by loans from its directors, which already total over $113 thousand.
The management expects further expenses and need to raise funds for covering them. They plan to do that through a private offering, however, the company’s auditors are concerned about the continuation of Medisafe operations.
