Wednesday, 20 December 2006
MFIC Corporation Makes Statement
LOS ANGELES, CA (NAMC) - Late yesterday OTC Bulletin Board traded stock MFIC Corporation (OTCBB: MFIC) issued a statement that they have no clue what prompted the recent high volume in the stock nor the decline. Lets chime in on this one, what may account for these events could be the fact that the company hired an investor relations firm on December 7, 2006. The purpose of an investor relations firm is to increase investor awareness and in turn potentially increase the volume as investors take positions in the stock.
The second possibility is the fact that on December 14, 2006 the company hired the brokerage firm Taglich Brothers to initiate coverage of this company. In the real world not too many OTC Bulletin Board companies receive analyst coverage so the next best thing may be to purchase that analyst coverage.
According to Taglich Brothers even though they get a monthly retainer their outlook is unbiased.
In any event I found this statement interesting enough to write about, and I guess it was necessary to make such a statement for the purpose of transparency. I do not know much about the company and usually would not comment on a OTCBB company but I couldn't resist.
David Kingston
Business News Correspondent
NAMC Newswire
www.namcnewswire.com
AI
