Medifirst Solutions Inc (OTCMKTS:MFST) shares rose 12.12% on Tuesday to $0.00370 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.02. The company has a market cap of $561,734.00 at 138.02 million shares outstanding.
Medifirst Solutions Inc is a development-stage company that is engaged in developing medical devices. Under a manufacturing agreement, the company produces its hand-held mobile laser system known as The Time Machine Program. Through its subsidiary Medical Laser Manufacturer Inc, it has entered into a Product and Know-How License Agreement with Laser Lab Corp to license the use of various properties in connection with seeking regulatory approval for and marketing, distributing and selling The Time Machine Series Lasers or TTM Series.
In addition to the license granted to Medifirst Solutions Inc, the License Agreement provides for an option to license other fields of use of the infrared laser in the TTM Series, as well as other wavelengths and colors, allowing it to develop a range of product offerings. The Time Machine Infrared Laser 810/830-nanometer operates in continuous wave mode set at a fixed frequency.
In a press release, Medifirst Solutions Inc shared that its President and Medical Director will be presenting its FDA cleared laser technology at a medical conference on January 27th in Casablanca and on February 1st in Dubai. The former will host about 100 physicians who will be specifically attending to see a presentation and demonstration of the Infrared Time Machine Laser.
The company also shared that medical distributors in both Morocco and Dubai have inquired about its time frame and capacity to produce and ship large bulk orders. Because of that, Medifirst Solutions Inc has decided to ramp up production in anticipation of bulk purchase orders. Its representatives will also be meeting with representatives of the Moroccan Ministry of Health who have the authority to purchase medical devices for all the hospitals in the country. Apart from that, Medifirst Solutions Inc has plans to set up a distribution hub in Morocco that would expedite future orders in that region.
After we complete our demonstration and presentation, we anticipate finalizing the initial sales and fulfillment process. This is just the beginning of what we hope is a long term business relationship in the region,” remarked Medifirst Solutions Inc President Bruce Schoengood.
In Dubai, company representatives will also be meeting representatives of a Saudi Arabia based medical distributor that has requested exclusive rights for four countries in the region.
We are excited to have the opportunity to meet distributors who have the buying power for bulk orders of our Laser. Medifirst will also be meeting with several Dubai based medical distributors who have requested to meet the Medifirst management regarding sales and distribution for the Time Machine Lasers,” added Schoengood.
Looking at the stock’s long-term chart, though, shows that it has yet to pull up from its dive. It’s worth noting that investor interest has been climbing as volume has been increasing since December last year and has spiked early this year. Further bullish momentum could allow the stock to climb up to the next area of interest around $0.005.
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