{"id":3005,"date":"2013-10-24T14:15:01","date_gmt":"2013-10-24T14:15:01","guid":{"rendered":"\/?p=3005"},"modified":"2013-10-24T14:15:35","modified_gmt":"2013-10-24T14:15:35","slug":"mediswipe-inc-otcmktsmwip-flattened-to-0-01","status":"publish","type":"post","link":"\/articles\/mediswipe-inc-otcmktsmwip-flattened-to-0-01\/","title":{"rendered":"MediSwipe, Inc. (OTCMKTS:MWIP) Flattened to $0.01"},"content":{"rendered":"

\"4MWIP_chart.png\"Wednesday brought no relief to MediSwipe, Inc. (OTCMKTS:MWIP<\/a>) long supporters. The ticker lost another 20% in yesterday’s session on share volume that keeps swelling and clocked at 13.8 million. The ticker has lost 50% over three trading sessions. <\/p>\n

The new red streak comes in the wake of another, steadier drop that saw MWIP<\/a> stock slip 50% from an early September high of $0.06 per share. It would appear that the repercussions of the reverse stock split MWIP<\/a> announced a few days ago through a filing run deeper than was immediately visible.<\/p>\n

The company announced its plans for a 1-for-10 reverse split immediately before the first major drop three days ago. The stock seemed to solidify its movement and slowly pick up from the $0.03 line before the filing for the split.<\/p>\n

The company published an updated Schedule 14C on the day following the original filing, which we examined in a previous article, and corrected its post-split authorized share figure. The original filing stated that post-split the authorized share number would remain unchanged but the new one lists authorized shares cut in half post-split, from 500 million down to 250 million.<\/p>\n

While this is some consolation, it still leaves plenty of space for potential future dilution from the 44.8 million outstanding shares that would remain post-split if all goes according to plan. Investors seem to have been sufficiently scared to scuttle out of their positions and MWIP<\/a> traded almost 40 million shares on its way down over the last three days. Whether the selling spree is over remains to be seen.<\/p>\n

\"22GSAT_chart.png\"Other stocks that shifted significant dollar volume on Wednesday include Globalstar, Inc. (OTCMKTS:GSAT<\/a>) who closed nearly 4% down, marking a second red session in a row. TheDirectory.com, Inc. (OTCMKTS:SEEK<\/a>) are turning out to be quite the runner, with the price more than doubling over the last three sessions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wednesday brought no relief to MediSwipe, Inc. (OTCMKTS:MWIP) long supporters. The ticker lost another 20% in yesterday’s session on share volume that keeps swelling and clocked at 13.8 million. The ticker has lost 50%...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[314,88,856],"class_list":["post-3005","post","type-post","status-publish","format-standard","hentry","category-news","tag-gsat","tag-mwip","tag-seek"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3005"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3005\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}