Mind Solutions Inc (OTCMKTS:VOIS) has been facing a rough period lately. After posting strong gains throughout February and in the first week of March the stock price touched $0.0055 mark, but quickly commenced to decline. The sharp decline in the stock prices astonished many investors as the company is a cutting-edge technology firm. Moreover, it is working on the brain-computer-interface solutions.
The reason behind the stock price decline gets apparent after the balance sheet of Mind Solutions is thoroughly analyzed. As per the latest annual financial report released a couple of weeks ago, the company posted cash of $113,000. The liabilities came at $3 million while annual revenue was $100,000. The annual loss from operations came at $1.4 million. The financial numbers are really not impressive. It is another thing that the company has great potential. Recently, Mind Solutions confirmed that pre-order of its mobile BCI will commence on April 28, 2015, which is a encouraging news. Despite it, the stock price has failed to post strong gains in the week.
At the start of the week, Mind Solutions declined more than 20% and closed the trading session at $0.0023. It indicates that the total decline that stock price witnessed since its peak in March stands at 60%. Last trading session brought some respite as the stock price surged more than 7% to close the trading session at $0.00150 with share volume of 140.85 million compared to the average volume of 59.11 million.
The other details
Mind Solutions provided updated on its BCI device. It met with design entity and concluded all the ergonomic related advancements in the mobile BCI device. The directions have been given to commence the procedure of molding. It is in the development stage and will be launched in the market soon. Kerry Driscoll, the CEO stated that the management is excited to launch the new BCI device to market.