Georgi Kamburov

Mind Solutions Inc (OTCMKTS:VOIS) Plunges For The Bottom After New PR

by Georgi Kamburov April 2, 2015

Yesterday Mind Solutions Inc (OTCMKTS:VOIS, VOIS message board) announced that they are finally ready to begin manufacturing and assembly of their Brain-Control Interface (BCI) device. The process is estimated to take about twelve weeks so the product should be available to the public after three months. It is safe to assume that the market would be overjoyed by the news that the world’s smallest BCI device is finally under production. Well, this would be true if we weren’t talking about VOIS.

Instead of soaring up the chart to new highs the stock suffered a devastating crash wiping over 41% of its price and closing at $0.0014. A total of 185 million shares got traded throughout the session, the biggest daily volume registered by the stock in the past seven months. So why weren't investors excited by yesterday’s news?

Back in November VOIS said that they had completed final testing of the electronic components and that they were ready to begin the tooling and the manufacturing of the device. The twelve-week time frame was also mentioned. On January 7 VOIS once again said that they are preparing to enter the manufacturing phase. This time they anticipated the product to be ready 8 to 12 weeks after the process had begun. That is why investors weren’t particularly thrilled to read in yesterday’s PR that the production of the BCI device is just starting.

The red flags around the company don’t end there though. In our previous articles we warned you on numerous occasions about the absolutely crushing dilution of the common stock that has been taking place. At the end start of 2014 VOIS had a little over 36 million outstanding shares. At the start of 2015 however that number had surpassed 1.38 billion. Around 1.1 billion of the shares that were issued saw the light of day as a conversion of debt at just $0.0008 per share.

The annual report for 2014 also revealed that in term of financials VOIS had:

• $113 thousand cash
• $166 thousand total assets
• $3.1 million total liabilities
• $100 thousand annual revenues
• $1.4 million annual loss from operations

In a PR issued on February 26 the company announced that a wide-spread media campaign should be launched in March. Apparently this also got delayed and now VOIS plans to start the world-wide exposure of the product launch on Bloomberg Asia and Bloomberg Europe at some point in April.

It should be obvious that trading the stock is an incredibly risky choice. The heightened volatility must be taken into account and any trade positions should be attempted only after doing your own due diligence. 

Comments 0

Type the characters that you see in the box (5 characters).