Mind Solutions Inc (OTCMKTS:VOIS) has been dealing with the volatile price movements lately. After recording strong gains in the month of February and at the start of the March the share price made a high of $0.0055 mark, but then quickly started its decline. The deep plunge in the share prices surprised many investors as the company is a progressive technology firm. Besides, it is working on the most advanced form of brain-computer-interface solutions.
The reason behind the VOIS stock price plunge gets obvious after the balance sheet of Mind Solutions is carefully analyzed. As per the last annual financial numbers posted a couple of weeks ago, Mind Solutions recorded cash of $113,000. The liabilities stood massive at $3 million while the annual revenue came at $100,000. The company recorded an annual loss of $1.4 million. It is evident that the financial numbers are lacking strength.
It becomes all more disappointing for the investors especially when they know the company possesses potential to excel in the industry. Recently, it disclosed that the customers can pre-order mobile BCI from April 28, 2015 onwards, which definitely is cheering news. Despite it, VOIS stock price has failed to record strong gains in the week.
Earlier in the week, Mind Solutions Inc (OTCMKTS:VOIS) plunged more than 20% to trade near $0.0023. It implies that the total decline that VOIS stock price recorded since its peak in March now stands at 60%. Friday’s trading session brought some relief as the stock price jumped 7.14% to close the day at $0.00150 with share volume of 140.85 million against the average volume of 59.11 million.
Mind Solutions stated that the management met with design entity. All the ergonomic related advancements connected to the mobile BCI device have been done. The BCI device is in the development phase and will be soon available for sale.