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Micro-Cap in News; Marine Drive Mobile Corp. (MDMC)

By Warren Paige

Shares of Marine Drive Mobile Corp. (OTC: MDMC), a San Francisco-based company focused on transforming the online deal space by giving businesses a totally free online advertising platform, are soaring in trading today.

At last check, MDMC shares were trading 18.03% higher at $0.419 on above average volume of 5.17 million. The stock has now gained 40% in the last three trading sessions.

MDMC shares are soaring in trading today after the company announced that it entered into a Joint Venture Agreement with Pay2Gate LLC to develop an m-commerce payment gateway platform.

Colin MacDonald, President and CEO of Marine Drive Mobile, said that implementing MDMC’s own payment gateway for mobile devices should reduce the need to pay higher fees to competing financial gateway companies. MacDonald said that since MDMC will be developing the technology, it will not have to pay any licensing fees to use the payment gateway platform, and the company will also get a preferred transaction rate.

 

July 27th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.