Recent developments concerning Medizone International Inc (OTC:MZEI) sent the price flying. The possibility of the company turning to sales seems to be very exciting for a lot of traders.
After the 37.04% increase on Tuesday, yesterday MZEI got another 18.92% one and closed at $0.22 per share. Approximately 1.3 million shares were traded.
Before the market opened on May 10, the company released an announcement saying that MZEI’s AsepticSure disinfection technology had received a “glowing peer review”.
The PR goes on to explain that the article is a pivotal moment for the future of the product, and confirm the company’s plans to commercialize it.[BANNER]
Indeed, if the information provided by the management of MZEI is accurate, and they succeed in their plans, it would be a huge step for the company.
It should be pointed out that the timing is great. The latest financial report shows the company can use some funding:
- $195 thousand cash and $264 thousand total current assets
- $3.4 million total current liabilities
- $505 thousand net loss for the three months ended March 31, 2011
Being positioned in a sector with huge potential for profits is great. For the moment, however, not much is certain, other than the fact that MZEI broke through some technical indicators – 50 and 200 days moving averages, upper Bollinger band etc.