is how far it may go.Apparently, Medisafe certainly wants to hold the up move for longer. Yesterday, the company started a promotional campaign worth $40.000 with an unknown promoter. The promotional alerts stated that Medisafe has received a buyout offer at 33 cents and if the buyout offer is real, anyone who buys the stock below this price will be able to sell it at 33 cents to the buyer looking to take over the company. However, the only problem here is that the unsolicited buy-out news was published two weeks ago and yesterday the alerts reported nothing new.
Considering the old news, it looks like Medisafe has nothing else to report and it relies on old news to hold the current up move. Though, it is yet not certain for how long it will resist.
Medisafe 1 Technologies Corp. is a developer of patented technologies aimed to physically prevent unauthorized administration of prescription medications. Last November, the company used to trade significantly higher, however, the current trading range of the stock has moved down to $0.13 – $0.15 per share.[BANNER]
Regarding the company’s financials, it turns out the situation is not perfect at all. Historically, MFTH has financed its operations from the sale of common stock and contributions from related parties. However, its 10-K states that Medisafe will need additional funding in order to pursue its business objectives. Moreover, the management does not believe that the cash resources will be sufficient to fund the company’s expenses over the next 12 months, or until December 31 this year.
In this case, if Medisafe does not find additional financing or a way to get profitable, the old news might not be enough to hold the gain for long.
