Max Sound Corp (OTCMKTS:MAXD) investors have reason to be excited given recent developments and the huge stock price gains. The stock has climbed over 225% in the last few trading days on significant volume. Over 7 million shares have currently traded hand and the stock has seen a huge expansion in terms of volume and price. The main drive behind this strong, accelerated advance is the update the company provided.
In recent developments, Max Sound Corp (OTCMKTS:MAXD) provided an update about its ongoing litigation case against VSL and holding them in contempt. The CEO of MAXD stated, “”We believe the date change is a non-event, and no matter how many lawyers VSL brings or claims to be bringing in the future, we’re confident in a positive outcome for Max Sound.” The date has been set for April 7th to determine whether VSL should be held in contempt. The litigation is due to VSL’s continued violations of the Emergency Arbitration Award, and the Superior Court’s Order confirming the Award. At the hearing, the Court asked MAXD to demonstrate what additional damages it has incurred by virtue of VSL’s ongoing, allegedly violate, conduct. MAXD, through its counsel, and retained economic experts, are in the process of preparing that information for the Court.
The VSL litigation matter was upheld by the Superior Court’s Order. First it that VSL cannot disavow the validity of the Contract with MAXD. It also cannot any corporate or other entities formed, owned, or controlled by VSL that has any connection with the Contract. Lastly, VSL cannot license, sell, assign, or transfer, any of the technology, patents, or intellectual property, connected to the Contract in any manner, and is required to cooperate with the pending ODT enforcement litigation and fulfill its contractual obligations.
In addition to this, MAXD is going after $500 billion company Google with a litigation matter for patent infringement. The company is poised to make millions from its litigation matters through settlements or damage awards. If successful against Google, there stands to be a significant increase in shareholder value even if it is just a settlement which will likely be in the magnitude of $ millions to tens of millions.
MAXD are the creators of acclaimed MAX-D HD Audio, Max Sound can provide a better solution for Audio, Video and Data transmissions. Max Sound Corporation is the company that brings forth technologies for the betterment of the world, including VSL’s Optimized Data Transmission Technology. Max Sound®, MAXD® and MAX-D Audio Perfected® are registered trademarks.
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MAXD is currently trading at a $3.5 million market valuation. The company has been given a huge victory over VSL and if it is able to hold VSL in contempt, it would be an even bigger blow to VSL and the damages awarded to MAXD will likely be staggering and increase shareholder value. The stock has seen a huge run-up, so it would not be surprised to see a pullback of some sort. However, the stock could easily hit $0.02 to $0.04
We will be updating on MAXD when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with MAXD.
Disclosure: we hold no position in MAXD either long or short at the publication of this article and we have not been compensated for this article.