MediSwipe Inc. is a medical merchant payment company focused on the Cannabis and Medical Marijuana industries. The Company offers a wide spectrum of secure and reliable transaction processing solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions.
On December 19, in a mammoth press release which also marked the start of MWIP's parabolic run, MediSwipe announced that Merchant Processing Agreements Exceeding $10,000,000 Dollars ($10 million) in gross merchant processing volume for the months of October and November.
They also recently updated shareholders on the pending record date and spin-off of 800 Commerce from MediSwipe. They filed the Form S-1 on Friday December 7, 2012 with the Securities and Exchange Commission. Upon effectiveness of the registration statement, the board of directors of MediSwipe will set a record date whereby all shareholders of MediSwipe will pro rata participate in the distribution of the 800 Commerce shares owned by MediSwipe.
Michael Friedman, MWIP CEO stated, "The Amended filing of the 800 Commerce S-1 Registration Statement demonstrates our commitment to add shareholder value and begin to commercialize our mobile technology assets. We are pleased to be able to offer MediSwipe shareholders of record a stock dividend in 800 Commerce, giving our investors the opportunity to participate in two distinct plays, the first within the exciting healthcare and medical marijuana sector through MediSwipe, and the second, within the mobile payments and marketing sector through 800 Commerce,"
Currently trading at a market valuation approaching $15 million MWIP is in the red hot cannabis sector and has plenty of room for continued gains. Investors should remember though that this is a corporate structure that has been trading on the bb’s for many, many years and has a long history of losses, name changes and reverse stock splits.
Conclusion: MWIP is the latest cannabis penny stock to explode on the OTCBB. It’s easy to see why investors have been snapping up shares; MediSwipe recently announced that for the months of October and November they have booked merchant processing agreements exceeding $10,000,000 Dollars. That is epic news and could easily drive MWIP much higher short term. Long term is a different story entirely.