Notable Stock News to Watch: MMTEC (NASDAQ:MTC)

MMTEC (NASDAQ:MTC) spotted trading -89.92% off 52-week high price. On the other end, the stock has been noted 10.70% away from the low price over the last 52-weeks. The stock changed -6.64% to recent value of $1.97. The stock transacted 69596 shares during most recent day however it has an average volume of 45.51K shares. The company has 20.75M of outstanding shares and 7.34M shares were floated in the market.  

 On Dec. 20, 2019, MMTEC (NASDAQ:MTC) a China based technology company that provides access to the U.S. financial markets, released its unaudited financial results for the six months ended June 30, 2019.

Second Half 2019 Summary

  • Revenue was $177,543 for the six months ended June 30, 2019. The Company did not generate any revenue for the same period of 2018.
  • Gross profit was $111,328 for the six months ended June 30, 2019. The Company had neither revenue nor associated costs for the same period of 2018.
  • Loss from operations was $1,308,583 for the six months ended June 30, 2019, as compared to $1,064,245 for the same period of 2018.The increase was primarily attributable to the increase in selling and marketing costs for the financial advisory and investment banking business line.
  • Net loss was $1,326,941 for the six months ended June 30, 2019, as compared to net loss of $1,062,249 for the same period of 2018.
  • Loss per share both on a basic and fully diluted basis were $0.07 for the six months ended June 30, 2019, as compared to loss per share on a basic and fully diluted basis of $0.02 for the six months ended June 30, 2018.

 Its earnings per share (EPS) expected to touch remained -155.60% for this year. 

 According to the most recent quarter its current ratio was 0.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -7.62% from the mean of 20 days, -16.25% from mean of 50 days SMA and performed -62.94% from mean of 200 days price. Company’s performance for the week was -17.92%, 2.60% for month and YTD performance remained -66.84%.

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