MMRGlobal Inc (OTC:MMRF) has moved up in the past several sessions, but that seems to be based mostly on expectations, rather than results.
On Friday, MMRF closed up 5.14% at $0.0368. The volume was high above the average, although there wasn’t anything special on the day.
MMRF provides PHRs and deposit box storage solutions. The company has issued a number of press releases to convince traders that it has a bright future, and that seems to have worked in the past several sessions, keeping the price above the 50-day MA.[BANNER]
However, the 10-Q filed by MMRF on Nov. 14 doesn’t look too good. Although the company reported some revenue growth, the bottom line was a $2.1 million net loss. Additionally, MMRF has a significant working capital deficit, dilution and insufficient funds, which could result in more dilution.
If the company manages to make some magical turnaround, it could bring some profit for shareholders. It should be noted though that the business MMRF is focused on is in no way devoid of competition.
There is a shareholder “chat” scheduled for tomorrow. It may provide some more light on how the management plans to offset the negative financial performance. The “chat” is probably one of the reasons for the current price.
