MediSwipe Inc (PINK:MWIP) Gets a Breath of Fresh Air
Yet another company that wants to get a piece of the pie in the medical marijuana sector rises and its name is MediSwipe Inc ( PINK:MWIP ). They are bombarding the media with press releases which seem to be finally getting more optimistic. After the big fall of their stock prices on April 1 attributed to the release of their annual report (which, by the way, was not a pleasant thing to read for people investing in them), they seem to be coming back on track. Today they started better then they finished yesterday and the stock might be going for the $0.04 mark. This is happening probably because their last press release finally has some good news. They seem to have gotten a product ready and it has attracted interest from the targeted audience. Today it was announced that they will be installing their software solution in three medical marijuana dispensaries and provisional centers located in Michigan. This, however, does not make up for the financial situation of the company. As we told you yesterday, their annual financial report is something that you would put in a stock exchange horror movie. You can see the numbers of main interest from the report in question below. cash: $1.8 thousand current liabilities: $260 thousand revenue: $77 thousand net loss: $461 thousand[BANNER] Well, at least they have some revenue. That revenue, however, comes at very high price that is way over the limits in which you can call a company successful. MWIP at the moment is operating with an annual net loss that is 6 times higher than its revenue. In this situation the question of whether this new digital patient management and tracking software that was especially designed for dispensaries, provisional centers and caregivers will be able to carry them out of the mud. Right now as I am writing this their stock hit the $0.04 mark. Where it will go from there is hard to say. It seems that people look at MWIP's latest press release optimistically and are ready to invest their hard earned money in this allegedly groundbreaking transaction processing and security solution provider. The PR really is a breath of fresh air for people who have invested in them, but will MWIP be able to finance their operation further with such huge losses? It is all for the future to say. The only thing for certain right now is that MWIP is a risky investment choice, that is yet to prove itself as a successful business. Until then we advise that you do your research, weigh out the risks and after that decide if this stock is something you would put your money into.