Medical International Technology, Inc. (OTC: MDLH) Stays Still at the Top
11 Feb 2010

Despite of intensive PR, Medical International Technology, Inc. (OTC:MDLH) remained still yesterday after the flight. On Tuesday the stock had its first peak for this year, jumping by 10.63%, but it looks like that will be all for now.

The closing price remained unchanged yesterday at $0.52 and the trading volume marked an insignificant increase. The $5,000 spent for a promotion did not pay out, as the market was unwilling to raise the bids higher and only the daily high of $0.56 looks like an amazing value for the stock, given that previous levels rarely exceeded $0.25.

Along with the promotion, Medical International Technology has been issuing a lot of favorable press releases these days. Yesterday it announced that its Chinese Joint Venture has received certification to produce Med-Jet products in China and MIT China’s production facilities have been declared for suitable for medical device manufacturing. Therefore, the clinical tests for the Med-Jet products are expected to start as soon as possible. Both events the company sees as milestones leading to the main objective to obtain the right to sell Med-Jet products in China.

Two days before that MIT announced its plans to attack new lucrative markets with three newly developed products of the company. The products are designed to be used for the treatment of human diabetes, as well as in dentistry and poultry applications. These markets have, according to the management, high potential to provide revenues because of the constantly growing consumer demand worldwide.

Unfortunately, none of the great news was covered by a respective SEC filings and the latest filing of financial information about MIT’s business reveals a net loss of $2.4 and an accumulated deficit of $4.2 million for the nine months ended September last year.

No comments
Leave a comment

To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word