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Good Evening,
We have a special alert we want to alert you on this evening so you can begin doing your research immediately!
Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies has been making moves (if you follow recent filings) that are intended to grow the company and benefit shareholders. Starting with a November payment of a Convertible Promissory Note, the company seems to be positioning itself for acquisition and execution of the business plan in 2012. After the market closed last friday, the company announced that the company's Board of Directors approved a stock repurchase program coupled with the relief to shareholder dilution back in November are positive signals for Medisafe.
Under the program, MFTH is authorized to repurchase up to 10 million of its outstanding shares of common stock during the next 12 months at a price up to $0.10 per share on the open market or by conducting privately negotiated transactions, company CEO Jacob Elhadad said, "Medisafe 1 Technologies continues to progress in our efforts to bring further added value to our shareholders, the repurchase of shares will enable us to acquire additional technologies that augment our existing commercial product line."
The repurchase program would cost up to $1,000,000 and is subject to obtaining third party financing for the program where Medisafe is currently in talks with financial intuitions for the Repurchase Program. These shares may also be utilized by Medisafe to acquire additional assets, in particular the acquisition of a Child life-saving medical device company currently in negotiation. This clearly is part of the 2012 growth strategy as the company continues to make improvements to the balance sheet, strategic partnerships and acquisitions.
Back in November 2011 the company announced that it had pre-paid two convertible promissory notes aggregating $57,000, including the interest due. The notes had conversion rights allowing the holder of the note to convert to common stock. "Medisafe pre-paid the promissory notes to prevent the notes from being converted into equity," said Jacob Elhadad, CEO of Medisafe 1 Technologies Corp. "Pre-payment of the notes prevented and continues to prevent the dilution of our common stock."
MFTH will update its shareholders in the following weeks of progress of this acquisition, but clearly these moves telegraph a solid business plan for 2012 and the subsequent execution of that plan.
News like this generally will get a stock active right out of the gates. Begin your research now on MFTH and put this at the top of your radar for tomorrow's trading session.
Happy Trading!
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Remember, we always encourage you to do your own due diligence. The best way to begin your research is to review the company's website, latest press releases and always dig into their filings with the SEC.
Intelligent traders use Stop Loss Orders to protect their investments. We highly recommend you do the same and never allow greed to disrupt your strategy. Book your profits when you can!
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