Three months ago, third parties pooled $5 thousand to pump the stock of Modern Mobility Aids Inc. (OTC:MDRM) but all to no avail. Now, the stake has been tripled.
The fifteen-thousand-dollar promotional newsletter reached investor e-mails right after the end of yesterday’s trading session. As it turned out, MDRM stock gained 11% in value, clocking in at $0.195 per share on a record-breaking volume of 430 thousand shares. Considering that MDRM’s latest official news had already been out for three days, this movement suggests that we are either witnessing a market makers’ game, or there are investors who dispose of some insider information. Whatever the case is, it will eventually come to light.
Since May 2011, Modern Mobility Aids, Inc. directed its business operation toward the field of life sciences and the healthcare industry. On Nov. 14, the Nevadan corporation announced it had brought its due diligence on an impending acquisition to an end and intended to finish off the transaction by the end of the month.
Financialwise, MDRM is a regular SEC filer. Yet, it has yet to submit its third 10-Q for 2011. At the moment, the company’s most current report covers the fiscal year ended Jun. 30. It reveals:
- $182 in cash;
- working capital deficit in excess of $100K;
- annual net loss of $160K.
Obviously, the company’s financial state is fairly fragile. Nevertheless, managers seem to be creative enough to make the aforementioned acquisition. Anyway, it will take quite a while before the company goes in the black bringing its stockholders the long-awaited return on their investment.
