{"id":2443,"date":"2013-09-04T14:14:56","date_gmt":"2013-09-04T14:14:56","guid":{"rendered":"\/?p=2443"},"modified":"2013-09-04T14:15:03","modified_gmt":"2013-09-04T14:15:03","slug":"sk3-group-inc-otcmktsskto-shambles-back-to-over-a-cent","status":"publish","type":"post","link":"\/articles\/sk3-group-inc-otcmktsskto-shambles-back-to-over-a-cent\/","title":{"rendered":"SK3 Group, Inc. (OTCMKTS:SKTO) Shambles Back to Over a Cent"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/6SKTO_chart.png\" border=\"0\" alt=\"6SKTO_chart.png\" title=\"6SKTO_chart.png\" width=\"450\" height=\"201\" \/>Friday saw SK3 Group, Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SKTO\">SKTO<\/a>) pull itself out of sub-penny land and close the session just a smidgen over $0.01 per share. The movement was an extension of the late Thursday volume boost the stock caught &#8211; <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SKTO\">SKTO<\/a> moved 14 million shares on Friday, or a little over three times its average. <\/p>\n<p>The company originally came into the limelight riding the aftershocks of the February marijuana sector surge. Going from under a cent to intra-day spikes of $0.08 within two weeks may have been the order of the day this spring but it&#8217;s not anymore as the price has slowly descended from $0.05 to under a cent in the last four months.<\/p>\n<p>The last financial report from <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SKTO\">SKTO<\/a> was made public just two weeks ago and it contained the following figures:<\/p>\n<ul>\n<li>zero in cash<\/li>\n<li>$18 million in receivables<\/li>\n<li>$893 thousand in current liabilities<\/li>\n<li>$13.4 million in revenues<\/li>\n<li>$13.2 million in net income<\/li>\n<\/ul>\n<p>Despite the sizable revenue and income numbers, the company is still cashless. Dilution may also be a point of interest for some traders. From mid-April to mid-August this year <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SKTO\">SKTO<\/a> diluted its common stock by about 50%, going from 363 million to 592 million outstanding shares. Only 40 million of those shares were issued for acquisitions, with the remaining 190 million issued to clear convertible debt.<\/p>\n<p>Some may also wonder why a company that is turning over ten million in quarterly net income happens to be unsteadily hovering around the $0.01 mark or why the same company is paying under $600 in rent expense and under $1 thousand in travel expenses for the same quarter but this is a question we cannot answer and we advise that you do your own due diligence on the matter.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/714MJNA_chart.png\" border=\"0\" alt=\"714MJNA_chart.png\" title=\"714MJNA_chart.png\" width=\"330\" height=\"147\" \/>At the end of the day, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SKTO\">SKTO<\/a> did the best job of maintaining its price levels after the Thursday hype-spike that rippled across the whole marijuana sector, as it managed to close green on Friday. Medical Marijuana, Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>) was less fortunate and dropped back 18%. Hemp, Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=HEMP\">HEMP<\/a>) followed suit, slumping 32% after the spike.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Friday saw SK3 Group, Inc. (OTCMKTS:SKTO) pull itself out of sub-penny land and close the session just a smidgen over $0.01 per share. The movement was an extension of the late Thursday volume boost&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[228,8,90],"class_list":["post-2443","post","type-post","status-publish","format-standard","hentry","category-news","tag-hemp","tag-mjna","tag-skto"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/2443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=2443"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/2443\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=2443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=2443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=2443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}