Max Sound Corp (OTCBB:MAXD) Trades Near 52-Week Low

Over The last two years, investors have tried to make money out of Max Sound Corp (OTCBB:MAXD). Several experts including Tobin Smith stated that investors can make good money out of it in few years. In 2013, Tobin Smith conducted interviews, with the company CEO and said that, in his opinion, Max Sound share price can reach $2.50 per share in 2014. Even some firms including Quality Stocks sent promotional emails and talked about future prospects of the company.

Failed optimism

There were many investors who trusted the words of experts and invested in Max Sound. Now, it seems a failed optimism as Max Sound Corp (OTCBB:MAXD) shares are sliding towards the bottom of the chart from some time. Although it posted gains of more than 20% to close at $0.0390 in last trading session, but it came after it wiped out almost 14% of its value on Wednesday’s trading session. Few days ago it made an all-time low of $0.027.

The performance

The overall performance of Max Sound is extremely disappointing. As per the latest 10-Q filed with SEC, Max Sound Corp (OTCBB:MAXD) has cash of $125,000 as on September 30, 2014.The current assets and current liabilities stood at $255,000 and $4.4 million. The revenue for the quarter ending September 30, 2014 came at $1,103. The financial results indicated Max Sound shares don’t deserve a valuation of $2.50 per share, and that’s why Tobin Smith’s price target was not achieved in 2014.

Mobile application

Max Sound introduced its mobile application in August 2013. However, it has failed to yield any benefit for Max Sound Corp (OTCBB:MAXD) till now. The deals signed with Akyumen Technologies Corp and LOOKHU in 2Q2013 haven’t come to fruition. It implies Max Sound’s plan of translating its audio technology to prominence has not worked in favor of the company.

Licensing agreement

Max Sound entered into a licensing deal with VSL Communications in May 2014. The two companies then filed lawsuits against Google Inc (NASDAQ:GOOGL), alleging the company of patent infringement. Max Sound mentioned in its latest 10-Q filing that it are better chances success.

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