Medically Minded Inc (OTCMKTS:MMHC) shares jumped 21.43% after the company reported strong Q1 performance.
Medically Minded Inc (OTCMKTS:MMHC) shares jumped 21.43% on Wednesday to $0.00170 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $69,300 at 49.52 million shares outstanding.
Medically Minded Inc is a company that is primarily focused on the potential benefits of hemp cannabidiol and products containing CBD at various concentration levels. Through its Med Minded Labs E-Store, the company will market third party labels and its own branded products under the Medically Minded label.
The company plans also to introduce new products ongoing based around CBD and other natural dietary supplements , plants, herbs and spices. Med Minded Labs is an alternative medicine and dietary supplement ecommerce store owned by the company. Med Minded Labs will carry a variety of nutritional and dietary supplements, including hemp cannabidiol. The company is focused on acquiring, developing and providing natural dietary supplements that have a history of nutritional benefit and support of over all general well-being.
In a press release, Medically Minded Inc now named Sixty Six Oilfield Services, Inc., announced first quarter gross sales of $1.4M with net revenue estimates at $308K for the period ended March 31. This marks quarter-on-quarter improvements of 155% in gross sales and 276% in net revenue compared to the same period in 2016. Apart from that, the company also increased its net margins from 11% to 19%.
We are pleased to announce that our first quarter estimates show strong growth. The company anticipates the growth to continue in April as we are eyeing a record setting month for revenue,” said James Frazier, President and Chief Financial Officer.
According to a global market research and consulting firm MarketsandMarkets, the oilfield equipment rental market will be worth $53.7 billion by 2019.
The North American region holds the largest market for oilfield equipment rental, driven largely by the number of drilling and E&P [Energy & Petroleum] activities in the U.S. North America, due to its growing energy needs and flourishing conventional and unconventional drilling and oilfield service industry is the major growth engine for this market, the report concluded.
According to Frazier, the Company is positioning itself to take optimal advantage of the improved market conditions and that they are on track with our business development plan in an improving oil and gas market. It anticipates the drilling sector to be a leading indicator of overall market improvement from which we expect to benefit.
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