![](\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/90\/90740\/mhcc_6m_450x350.png\")
<\/p>\n<\/p>\n
Yesterday’s session was a turbulent one for the stock of Millennium Healthcare Inc (OTCMKTS:MHCC<\/a>). The ticker opened at $0.0114, surged to a high of the day of $0.145 but not only did it manage to wipe all of its gains but it actually dropped to a low of $0.0109. During the last hour of the session MHCC<\/a> <\/strong>rallied and when the closing bell signaled the end of the trading day the stock was sitting nearly 24% in the green at $0.0142. The daily volume of 18.3 million shares is a new record for the company.<\/p>\n MHCC<\/a>‘s <\/strong>performance was far from consistent but the outcome of the session is undeniably impressive. Will the stock manage to keep even a portion of its gains though?<\/p>\n On July 6 MHCC<\/a> <\/strong>announced that they have signed a Letter of Intent to acquire HealthPath, LLC<\/em>. The acquisition was expected to be closed within 15 days after an exploratory due diligence period. The news was enough to lure investors in and on that day the stock registered gains of 26.6%. The excitement quickly dissipated though and on the very next day MHCC<\/a> <\/strong>crashed by 21%.<\/p>\n When on July 9 the acquisition was announced as completed there was no sign of the positive momentum and MHCC<\/a> <\/strong>actually suffered a 7.2% correction. Not to mention that on July 10 the company posted its new 52-week low of $0.009. Although the stock has bounced during the last two sessions MHCC<\/a> <\/strong>is still sitting more than 92% lower than its January highs. The losses grow even bigger if you go further back the chart.<\/p>\n The financial results of the company are equally as depressing as the chart performance. At the end of the first quarter of the year MHCC<\/a> <\/strong>had:<\/p>\n • $21,811 cash At the same time investors should also worry about the alarming dilution of the common stock. At the start of 2013 MHCC<\/a> <\/strong>had 63 million shares but that amount had more than doubled by the end of 2014. As of May 20, 2015, Millennium <\/strong>had 193 million outstanding shares. 53.1 million of the shares<\/strong> issued this year were part of satisfaction agreements and releases with the company’s warrant holders. In May an 8-K filing revealed that MHCC<\/a> <\/strong>has agreed to issue 237,200,000 common shares<\/strong> in exchange for warrants for the purchase of 3,650,000 common shares. Also in May the authorized shares of the company were increased from 200 million to 350 million.<\/p>\n
• $5.8 million total current assets
• $9.7 million total current liabilities
• $678 thousand revenues
• $2.3 million net loss<\/p>\n