Shares of Mistral Ventures Inc (PINK:MILV) turned higher sharply after initial fall as the company released a press release stating that it has reached an agreement with its own subsidiary Nature’s Bioceuticals, which has been working on inventing spectacular cold and flu medicine over the many years.
Although, sales of cold and flu formulas have shown lackluster growth period in the past couple of years, the company is very optimistic about its innovation and projects to provide potentially $100 or 3% of the US market in revenue over the next three years.
In the past, OTC products have not shown impressive results due to their bad press, a number of recalls and FDA recommendations. In on March 2, 2011 the FDA decided to remove over 500 prescription cold, cough, and allergy products from the market, stating potential safety concerns.
The company stated that its innovation contains over twenty different herbs that are all ‘active ingredients,’ which would be sufficient to provide relief from the cold and flu symptoms, but more importantly, it boosts the body’s immune response to combat the cause of the virus.
Shares of MILV are trading higher by 37.78% to $0.062 after opening lower by about 10%. More than 133.54 million shares have already exchanged hands within first three-hour of trading session, compared to its 30-day average volume of 290K shares.
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