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Medora Corp (OTCBB:XUII) looking to consolidate after initial pump

Boston, MA, 05/03/2013 – It is common for penny stock newsletters to keep flooding subscribers inbox with hyped and positive sentiments about the company they are promoting. So is the case with Medora Corp (OTCBB:XUII) which was pumped by awesome penny stocks group on May the 1st. Though XUII gained significant percentage on the first day of the promo, the followup days have not been so great.  After surging to 0.31, XUII is trying to find support at the 20 cents range. One of the email newsletters on XUII went on to use the Kanye West and Kim Kardashian story to create positive sentiments among traders and investors. According to the newsletter XUII is in negotiations with Kanye West and some other well know artist to bring them on board.

XUII is currently trading at 0.205, up 7% from its previous close. It would be interesting to see whether XUII consolidates and finds a support at the 20 cents level or drifts down further from here. Today US stocks have hit all time high on positive job report with S and P breaking the 1600 mark and Dow above 1500. However, in case of promotional pumps like XUII what really matters is how well the touters convince their subscribers to get into their alerts.

So what does XUII specialize in ? According to the company’s profile, Xumanii™ is an all-inclusive online platform that provides users the opportunity to create a “Live Broadcast” in true High Definition. Xumanii™’s new, patent pending technology integrates proprietary hardware and software wirelessly, streaming live feeds from multiple cameras in High Definition Audio/Visual with capabilities of up to 10 Megabites per seconds. This technology integrated Hardware and Software allows for the highest quality “live broadcast” without the exorbitant expenditure of traditional methods currently used in the marketplace via the respective Artist’s Channel on Xumanii.com. The Company’s technology can also be provided to each Artist allowing them to broadcast any event in which they feel that they would like their fans to be a part of.

XUII’s market cap is estimated at more than $60 million. However, the latest quarterly report for the period that ended on January 31 is really disappointing for a company with this kind of market cap. According to the report, XUII has approximately 7K$ cash, current assets: of $22K and liabilities amounting to $975 thousand and revenue since inception: $0 with net loss since inception: $956 thousand.

 

More details can be found at finance.yahoo.com.

Published by Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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