MWIP is another hot Cannabis stock!
MediSwipe has absolutely exploded on massive volume as pot stocks on the OTCBB hit new and bigger highs. This comes as Colorado launches the first legal US sale of recreational pot. Pot retailers in Colorado have been marked by massive lines of people and some are already predicting that the sector could be worth as much as $10 billion a few years out in Colorado and Washington alone.
MediSwipe is one of the Companies that has benefited most from the recent massive surge in pot stocks as the Company is already well established, providing transaction processing systems to the medical industry. MWIP recent launched a cooperative in Colorado to work with licensed marijuana industry participants and word on the street is that they could very quickly gain a leading market share in this new billion dollar market.
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On December 11 MWIPD announced that in accordance with its prior announcement to effect a 1-for-10 reverse stock split of its common stock, that such reverse stock split will become effective at the opening of trading on December 11, 2013. The Board approved the reverse stock split at a ratio of 1-for-10 pursuant to authorization by shareholders at a special meeting of shareholders on October 22, 2013.
They also recently updated shareholders on the pending record date and spin-off of 800 Commerce from MediSwipe. They filed the Form S-1 on Friday December 7, 2012 with the Securities and Exchange Commission. Upon effectiveness of the registration statement, the board of directors of MediSwipe will set a record date whereby all shareholders of MediSwipe will pro rata participate in the distribution of the 800 Commerce shares owned by MediSwipe.
Michael Friedman, MWIP CEO stated, "The Amended filing of the 800 Commerce S-1 Registration Statement demonstrates our commitment to add shareholder value and begin to commercialize our mobile technology assets. We are pleased to be able to offer MediSwipe shareholders of record a stock dividend in 800 Commerce, giving our investors the opportunity to participate in two distinct plays, the first within the exciting healthcare and medical marijuana sector through MediSwipe, and the second, within the mobile payments and marketing sector through 800 Commerce,"
Currently trading at a market valuation approaching $15 million MWIP is in the red hot cannabis sector and has plenty of room for continued gains. Investors should remember though that this is a corporate structure that has been trading on the bb’s for many, many years and has a long history of losses, name changes and reverse stock splits.
Conclusion: MWIP is the latest cannabis penny stock to explode on the OTCBB. It’s easy to see why investors have been snapping up shares; MWIP still trades at a fairly low market valuation of $5 million and the Company is growing quickly with small but fast growing revenues, manageable debt and a decent cash position. Along with the rest of the sector MWIP is exploding upwards and quickly gaining the type of loyal following that can drive these pennies to 1000% gains. Keep an eye on this one.
MediSwipe, Inc. (OTC: MWIP) has been trading on the OTCBB for many years and has undergone a number of reverse stock splits and name changes. The Company was intially trading on the Amex before they got delisted to the OTBB. In Juy 2011 the Company changed their name from Cannabis Medical Solutions, Inc to MediSwipe, Inc