Modern Mobility Aids, Inc. (MDRM)

mdrmlogo-300x81Modern Mobility Aids, Inc. is a development-stage specialty company that is aiming to enter the alternative medicine industry. Though the company is based in Nevada, USA, its current endeavors focus on medical marijuana development and production in Canada.

There are not many active operations of the company on its current medical marijuana focus, but it has established a wholly owned subsidiary called MDRM Group Canada Ltd. This subsidiary is intended to form and handle joint ventures, acquisitions, and agreements with herbal producers in Canada.

Among the subsidiary’s recent activities is the closing of an agreement with Easton Pharmaceuticals, Inc, a Canadian pharma company that develops drugs including medical marijuana products. The agreement gives Easton the option to purchase up to 49% of a yet-unnamed medical marijuana company.

Modern Mobility Aids is also considering investments in the industry. One of its recent investments is the purchase of a 50% interest in the Canadian cultivator Green Calyx, Inc. It has also stated that it will also consider investing in licensed US suppliers.

The company was founded and incorporated in 2007 with the name Glider, Inc. It changed its name to Modern Mobility Aids, Inc in 2010. Its previous business was in the Russian market, distributing mobility products such as wheelchairs and walkers, hence the name.

Modern Mobility Aids, Inc is now traded in the US OTC markets as MDRM. Its market cap is pegged at USD 3.77 M. The company’s management team is headed by Kenneth R. Pinckard, CEO, and Preston J. Shea, President and CFO. It also has Dr. Baseer U. Khan as the Chief Medical Director and Chairman of the Medical Advisory Committee, and Gilbert S. Sharpe as the Executive Advisor.

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