{"id":5723,"date":"2015-05-22T14:12:00","date_gmt":"2015-05-22T14:12:00","guid":{"rendered":"\/?p=5723"},"modified":"2015-05-22T14:39:27","modified_gmt":"2015-05-22T14:39:27","slug":"medican-enterprises-inc-otcmktsmdcns-crash-accelerates-after-10-q","status":"publish","type":"post","link":"\/articles\/medican-enterprises-inc-otcmktsmdcns-crash-accelerates-after-10-q\/","title":{"rendered":"Medican Enterprises Inc (OTCMKTS:MDCN)&#8217;s Crash Accelerates After 10-Q"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90187\/fasdfasdf.png\" border=\"0\" width=\"435\" height=\"194\" \/>Medican Enterprises Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDCN\">MDCN<\/a>) shed another 20.00% of its market cap yesterday, as the company&#8217;s latest filing triggered yet another fit of frenzied selling. <\/p>\n<p>Judging by the charts, the ticker was having trouble holding its ground throughout the entire session &ndash; but may have managed to do so, more or less, if the news hadn&#8217;t hit it. However, once the report hit the web at 15:32, the crash became inevitable.<\/p>\n<p>And who could really blame investors for desperately scrabbling to abandon ship, when said report showed numbers such as these:<\/p>\n<ul>\n<li>cash &#8211; $9 thousand<\/li>\n<li>total assets &#8211; $73 thousand<\/li>\n<li>current liabilities &#8211; $9.7 million<\/li>\n<li>NO REVENUES TO DATE<\/li>\n<li>Quarterly net loss &#8211; $108.6 million<\/li>\n<\/ul>\n<p>The numbers speak for themselves. Even if approximately $100 million of the number given next to &ldquo;net loss&rdquo; can be attributed to &ldquo;<em>Loss on revaluation of derivative liability&rdquo;<\/em>, that still leaves about $9 million wort of actual net loss &ndash; which is horrifying, especially since the company has nothing to show for it. And that&#8217;s not all that is killing <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDCN\">MDCN<\/a> <\/strong>investor value &ndash; not by a long shot.<\/p>\n<p>If you think that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDCN\">MDCN<\/a><\/strong>&#8216;s financial sheets show a grim picture, you should definitely check out its share structure. Remember when we told you that after the 1 for 10 reverse split that happened on April 4, 2015 the company&#8217;s total shares outstanding should have been reduced to about 50 million? Well, as of yesterday, May 20, 2015 that number was 134.7 MILLION &ndash; and, suffice it to say that most of said shares were issued at a discounts as terrifying as &ldquo;<em>60% of the lowest three closing bid prices for twenty prior trading days<\/em>&rdquo; or worse.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90187\/fas.jpg\" border=\"0\" width=\"205\" height=\"53\" \/>Long story short &ndash; the picture isn&#8217;t pretty. In light of just how bleak it looks, it wouldn&#8217;t be all that surprising to see the ticker fall all the way to triple zeros.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medican Enterprises Inc (OTCMKTS:MDCN) shed another 20.00% of its market cap yesterday, as the company&#8217;s latest filing triggered yet another fit of frenzied selling. Judging by the charts, the ticker was having trouble holding&#46;&#46;&#46;<\/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":[1288,1621],"class_list":["post-5723","post","type-post","status-publish","format-standard","hentry","category-news","tag-mdcn","tag-mdcnd"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5723","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=5723"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5723\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}