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MedMira Inc V.MIR

Alternate Symbol(s):  MMIRF

MedMira Inc. is a Canada-based biotechnology company. The Company, through its subsidiaries, is engaged in the business of research, development and manufacturing of rapid diagnostics and technologies. The Company invests in research in order to maintain and expand its position in the global diagnostics market. Its research is focused on specific areas of the broader diagnostics market, namely the rapid, point-of-care, and in vitro sectors. The Company is the developer and owner of Rapid Vertical Flow (RVF) Technology. The Company's rapid test applications built on RVF Technology provide hospitals, labs, clinics and individuals with instant diagnosis for diseases such as Human Immunodeficiency Virus (HIV), Syphilis and hepatitis C in just three easy steps. The Company's tests are sold under the Reveal, Multiplo and Miriad brands in global markets. The Company's manufacturing facilities are located in Halifax, Nova Scotia, Canada.


TSXV:MIR - Post by User

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Post by DivideNsputteron Dec 01, 2020 10:01pm
541 Views
Post# 32015662

All fluff?

All fluff? I admit I'm a bit intrigued by this company given the obvious demand for rapid testing due to COVID.

But...
  • The balance sheet is a disaster, they have a HUGE w/c defecit, they're basically insolvent and the Going Concern note in their FYE statements is, well, ominous would be putting it kindly. 
  • No insiders have bought shares in the last year. 
  • They have the revenue of a small town seasonal landscaping company. 
I know there is some buzz here because they have a product that should be driven by COVID but....how would they even fund their growth if they do get the approvals they are awaiting? Hard to imagine many would be lining up to throw more money at this company.

Not bashing...I'm genuinely curious why the faith for those who have it? Not sure any of the info posted today is all that convincing given the track record. 

Good luck. 
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