XTend Medical Corporation (XMDC.PK) showed a substantial rise yesterday, when its stock price shot up 42.55% to reach $0.0201 per share. Meanwhile, the number of traded shares totaled 11 million.
XMDC.PK is a manufacturer and distributor of life-changing medical technology for the healthcare industry. Its main product – BioHarp imaging device, is used for non-invasive detection of inflammation. There was, however, an ownership dispute on BioHarp, upon which a mediation process was assigned on Sept. 30.
There isn’t any recent news about the company that could have induced the surge in XMDC stock price. On the other hand, over the last two days the stock has been featured in HotOtc and Stock Egg newsletters. Apparently, it is the promotions that lie at the root of the mysterious upturn in the shares price.
It should be pointed out that XMDC.PK is classified as a company, which doesn’t provide current information and doesn’t report to the SEC. Such companies are very risky to invest in, as indicated by the SEC official website. According to the company’s last improvised financial report of Sept. 30, 2009, their net income amounts to $2,769. However, these values are not officially confirmed.
In addition, the company’s website doesn’t seem to have a professional touch, as the information there is too short and its structure is unpolished. Furthermore, iHUB forum discussions about XMDC.PK indicate that its CEO, Paul D. Lisenby, has run numerous companies such as BPMT, HWYI, SMMW, none of which manged to succeed.
In conclusion, as there is lack of essential information about this company, it is very unclear what future has in store for the XMDC stock.
