Todor Pichurov

Max Sound Corp (OTCBB:MAXD) Screeches to 52-Week Low

by Todor Pichurov September 11, 2015

After taking a nasty blow on massive volume yesterday, Max Sound Corp (OTCBB:MAXD, MAXD message board) sank 15% to stop at its lowest close for the past 52 weeks. Over 4.7 million shares changed hands as the price slipped over the session.

MAXD is a technology company focused on audio. Its flagship product is the Max-D HD Audio technology, which claims to “uncrush” digital audio from any source. We're no sound experts but to our untrained ear all the sound demos provided on the Max Sound website sound as though a very aggressive frequency equalizer has been applied to the original sound, boosting high and low frequencies, which is probably not exactly the same as “uncrushing” audio, even though it does give the impression of a “bigger, deeper, wider” sound.

MAXD is not very keen on pushing our weekly press announcements and its latest filing is the Q2 report that arrived on Aug 14. Here is the brief version of the report's balance sheet:

  • $6 thousand in cash
  • $6 million in current liabilities
  • ZERO in quarterly revenues
  • $2.8 million in quarterly net loss

Without a dime in revenue made over the first six months of 2015, cash shrinking to insignificant amounts and net loss growing quarter-over-quarter, it's understandable that people are not exactly ecstatic about MADX.

The company is involved in patent infringement legal action that it started against Google and Netflix. At this point, the outcome in either case is still unknown and will remain unknown for another few months.

Meanwhile, dilution continues at a steady rate. Between mid-May and mid-August, MAXD's outstanding common shares increased by about 10%, growing from 299 million to 330 million.

Comments 3

1. Guest
November 04, 2016, 06:24AM

Quotes I told my grnohmatder how you helped. She said, "bake them a cake!"

2. Guest
October 31, 2016, 11:26PM

Quotes Thank you so much for this artilce, it saved me time!

3. Guest
September 11, 2015, 11:24PM

Quotes Correction, they are over 9 million in liabilities with the most incompetent exec team around!

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