Medican Enterprises Inc (OTCMKTS:MDCN) Manages To Finish The Week Green

[[tagnumber 0]][[tagnumber 1]]Medican Enterprises Inc (OTCMKTS:MDCN) started the year on a bad foot and was sliding down the charts throughout most of the first quarter. We saw the ticker register some impressive gains in the second half of March, but [[tagnumber 2]]MDCN [[tagnumber 3]]quickly began to hesitate.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Then, on April 20, the company executed a 1 for 10 reverse split, decreasing the number of outstanding shares from 447 million to 47 million. The reverse split didn‘t manage to provide [[tagnumber 2]]MDCN [[tagnumber 3]]with a decent performance and the stock quickly began to slide down the charts on increasing volumes.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]It couldn‘t be any other way, considering that [[tagnumber 2]]MDCN [[tagnumber 3]]is already late with its Q1 filing, while the numbers contained in their annual report weren‘t really impressive. In fact, they looked quite disappointing.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 19]] [[tagnumber 20]]cash: $80 thousand[[tagnumber 21]] [[tagnumber 20]]total assets: $113 thousand[[tagnumber 21]] [[tagnumber 20]]current liabilities: $8 million[[tagnumber 21]] [[tagnumber 20]]revenues: $0[[tagnumber 21]] [[tagnumber 20]]yearly net loss: $56.4 million[[tagnumber 21]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Certainly doesn‘t look like the balance sheet of a solid investment choice. That is why it‘s no wonder that the company stock‘s performance has been so poor. Even the news of the acquisition of TWYNS from the beginning of last week weren‘t enough to push [[tagnumber 2]]MDCN [[tagnumber 3]]up.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]With no other press releases the company stock continued to slide into double–zero land and reached as low as $0.0068 at Thursday‘s final bell. For no apparent reason, however, we saw [[tagnumber 2]]MDCN [[tagnumber 3]]bounce in Friday and the ticker added 17.65% to its value, closing the session at $0.008 with a daily dollar volume of $213 thousand.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]This week has started on a bad note and we see [[tagnumber 2]]MDCN [[tagnumber 3]]25% lower from Friday‘s close nearly an hour into the session. This means that you should be sure to do your due diligence and weigh out the risks before deciding to make any play with [[tagnumber 2]]MDCN[[tagnumber 3]].[[tagnumber 4]]