Anastas Gegov

Notis Global Inc (OTCMKTS:MDBX) Tries To Recover

by Anastas Gegov February 24, 2016

Notis Global Inc f/k/a Medbox Inc (OTCMKTS:MDBX) has had it rough for quite some time now and things don’t look like they are going to change soon. The ticker is losing altitude slowly, but surely and the recent daily sessions show another increase in daily volumes.

 

Those of you who have been keeping an eye on MDBX know that the company has changed its name despite remaining in the same sector in which it has been operating for a while. The financial state of the company isn’t that great either. Here is an example from MDBX’s latest report.

 

  • cash: $346 thousand
  • current assets: $1.05 million
  • current liabilities: $16.74 million
  • quarterly revenues: $314 thousand
  • quarterly net loss: $9.29 million

 

Those are definitely some bad numbers, but the current market cap of MDBX is also small. This is probably the reason for which the ticker managed to jump 30% during yesterday’s trading after posting a fluff press release.

 

The ticker did manage to close at $0.0117 after a total of 31.25 million shares changed their owners and generated $335 thousand in daily dollar volume, however, it doesn’t seem likely that it will be capable of holding on to that price. MDBX slipped below the 1 cent per share mark today and, although it managed to recover some of the lost value, it still looks like it’s going to close the session in the red.

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